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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31560
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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My understanding is that if my house has a judgment lien of

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My understanding is that if my house has a judgment lien of $100,000, I can retain my $75,000 exemption (combined husband and wife). How can I protect the $75,000? Can my creditor (a bank) attach the money if I put it in a bank account? If I use the $75,000 to buy another house, can the creditor place a lien on it?

What can I do to keep the exempted amount from my creditor? (I had a bad real estate investment and the bank foreclosed).
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 6 years ago.

Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney here to assist you.


If your mortgage lender is the judgment creditor in this instance, the $75,000 exemption doesn't allow you to shield that amount from the creditor. In other words, you can't get $75,000 of equity paid out to you before the lender is paid in full.


If the judgment creditor is not your mortgage lender, you are entitled to the equitable exemption of $75,000 BEFORE a creditor, who is not secured by your home, can recover any money from the sale of this property.

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