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cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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If a debtor filing for chapter 7 BK who lives in FL and the

Resolved Question:

If a debtor filing for chapter 7 BK who lives in FL and the home in Fl is underwater therefore not needing the homestead exemption, and they also own a home in PA with equity of $25,000 how would that home be treated in the BK?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 4 years ago.

cortrightlaw : So you do not love I'm the home in PA? Are you planning on moving to PA? Is the PA home a rental?

Family is currently living in the home in PA

cortrightlaw :

Your immediate family wife & minor kids or relatives?


Mother. No rent is paid however she makes the mortgage payment

cortrightlaw :

Since it is not your primary residence the Florida exemptions do not provide much protection, they recently increased the personal property exemption from $1,000 - $4,000 if you do not use the homestead exemption.


thank you

cortrightlaw :

That is the only exemption that I see applies.

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