New law protects substantial equity in family homes! Equity is the value of your home minus any loans you have against it.
California’s new Homestead law protects you as a homeowner from creditors and protects up to $600,000 equity in your home when filing bankruptcy.
The new law takes effect January 1, 2021 and protects between $300,000 and $600,000 equity in bankruptcy. The amount protected depends on the county where your house is located and is adjusted each year for inflation.
Here are the August 2020 homestead protection amounts for:
Alpine unpublished
Amador $353,500
Butte $415,000
Calaveras $381,000
Colusa unpublished
El Dorado $570,000
Fresno $322,000
Glenn $263,500
Inyo unpublished
Kern $285,840
Kings $265,500
Lassen $249,000
Los Angeles $677,260
Madera $329,000
Mariposa $380,750
Merced $335,000
Modoc unpublished
Mono $665,000
Nevada $475,000
Placer $538,750
Plumas $392,000
Sacramento $425,000
San Joaquin $425,000
Shasta $315,000
Sierra unpublished
Siskiyou $260,000
Solano $515,000
Stanislaus $370,000
Sutter $335,000
Tehama $290,000
Trinity unpublished
Tulare $280,220
Tuolumne $318,000
https://www.car.org/marketdata/data/housingdata/%20
We are a debt relief agency and have practiced bankruptcy law for over 37 years. Our services include helping individuals and couples who file for bankruptcy relief under the Bankruptcy Code.