To reflect the higher value of houses today and in keeping with the goal of preventing homelessness, the bankruptcy equity exemption needs to be modernized, says Blanca E. Castro of AARP California. SB 308 does this by modestly increasing the exemption to a range between $100,000 and $300,000, enough to allow thousands of California families – house-rich but cash-poor – to start over.
To reflect the higher value of houses today and in keeping with the goal of preventing homelessness, the bankruptcy equity exemption needs to be modernized, says Blanca E. Castro of AARP California. SB 308 does this by modestly increasing the exemption to a range between $100,000 and $300,000, enough to allow thousands of California families – house-rich but cash-poor – to start over. Gentry Mullen MCT
To reflect the higher value of houses today and in keeping with the goal of preventing homelessness, the bankruptcy equity exemption needs to be modernized, says Blanca E. Castro of AARP California. SB 308 does this by modestly increasing the exemption to a range between $100,000 and $300,000, enough to allow thousands of California families – house-rich but cash-poor – to start over. Gentry Mullen MCT

SB 308 would help homeowners in bankruptcy

May 17, 2016 11:45 AM

UPDATED May 17, 2016 02:15 PM

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