Montana law provides homeowners with a homestead exemption of $250,000. That means that unsecured creditors cannot touch the equity in a homeowner’s home unless they have more than a quarter of a million dollars in equity in that home.
So long as the homeowner has $250,000 or less in equity in the home and continues to make regular mortgage payments, the bankruptcy court is likely to allow the homeowner to keep the home in a bankruptcy proceeding.
Speak to an Experienced Foreclosure Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure 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 attorney to discuss your specific legal situation.