South Dakota is one of the few states that allows for a full homestead exemption. That means that as long as the homeowner is able to continue making his or her regular monthly mortgage payments that the homeowner is likely to keep the home in a bankruptcy proceeding. None of the equity in the home can be touched by creditors who do not have a direct security interest in the home.
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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 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.