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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: coming out of chapter 7 Posted by mcduffee on October 08, 2003 at 11:48 PM In Reply to: coming out of chapter 7 posted by Jason on October 08, 2003 at 8:49 AM There is something called a "homestead exemption", which will shelter a certain amount of equity from the long arm of liquidation. The amount that can be sheltered varies from state to state. If the homeowner's equity was less than the homestead exemption, the house wouldn't have been sold as part of his Chapter 7, and he'd be eligible for foreclosure once the bankruptcy had run its course. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : There is something called a "homestead exemption", which will shelter a certain amount of equity from the long arm of liquidation. The amount that can be sheltered varies from state to state. If the homeowner's equity was less than the homestead exemption, the house wouldn't have been sold as part of his Chapter 7, and he'd be eligible for foreclosure once the bankruptcy had run its course. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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