Delaware’s homestead exemption allows a homeowner to keep $50,000 of equity in the homeowner’s primary residence if the homeowner files for bankruptcy. The homeowner may be able to remain in possession of the home if the homeowner continues to pay off the mortgage as directed by the bankruptcy court and does not own significantly more than $50,000 in equity in the home at the time the bankruptcy is filed.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.