The worth of an exemption on a homestead may differ from condition to point out. In the event the residence has additional fairness than you may exempt, the trustee can market it and use the proceeds to pay other debts you owe, like healthcare expenses and bank cards. But initially, the trustee have to shell out the mortgage, the costs of sale, as well as trustee’s commission, and also provide you with the amount you’re allowed to exempt.
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That’s since the trustee have to have time to determine if the creditors are entitled to have your residence offered and affordable bankruptcy lawyers near me spanish to english translation the proceeds distributed amongst them.
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