HOMESTEAD- Protect your Home

Friends of mine recently refinanced their house and the attorney pointed out that there was a change in Mass law to protect homeowners.  It raised the amount that you can protect significantly, but you must file with the county to get the protection.  The link below explains the law.

http://www.massresources.org/homestead-act.html

Under the amended Homestead Act, up to $125,000 of a homeowner’s equity is automatically protected by law.  A homeowner can protect up to $500,000 in equity by filing a Declaration of Homestead with the Registry of Deeds.

 

If you found this article helpful or informative, I would be grateful if you would like and share it with others. And please let me know if there is any real estate or appraisal related topics that you are interested in. – Adam@AladdinAppraisal.com


About Adam Wiener

I provide attorneys and accountants with date of death, estate, tax and bankruptcy appraisals. I help realtors and homeowners set effective listing and offering prices and deal with appraisal issues. And...due to my extensive construction and appraisal background, my sweet spot is helping homeowners with growing families make a decision whether to add to their existing home or move to a new home.

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