My brother bought a house Tobyhanna, Pa. in 1998 for $110,000. It's been his home off and on since, but he also spends a lot of time in NYC for professional reasons.
Recently, things have gone tough for him financially, and he's about to file a Chapter 13 petition
. He rents
an apartment with his girlfriend and wants to remain in it. (He owes about $8,000 in back rent.)
He considers his house in pa. to be his home. It's now worth about $120,000; he's paid about $60,000, still owes about $70,000.
Can this house & land be a "homestead exemption"? Since he has equity
in the property, could he be pushed to sell it?
Your input would be greatly appreciated.