Vermont protects the first $75,000 of home equity from unsecured creditors through the state homestead exemption law. That means that if a Vermont homeowner has $75,000 or less in equity in the home, is up to date on his or her mortgage and can continue making regular mortgage payments then the bankruptcy court is likely to allow the homeowner to keep his or her home even if the homeowner files for bankruptcy.
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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.