Some low level bureaucrat told me I can't homestead my house in California. ( I called to see if I could use this to protect my property from any attacks from the corporate America banking system). I'm not in foreclosure, nor am I behind in payments, but I've heard that some banks are "calling loans" for some pretty thin reasons.
If you are aware of why I can't exercise the same rights as you lucky guys in the "Free 49" , please let me know.
2007-10-23 07:37:29 · 2 answers · asked by Kalifornia Citizen 2 in Business & Finance ➔ Renting & Real Estate
Either you spoke to the wrong bureaucrat or the house in question isn't your primary swelling are the reasons why you couldn't get the homestead exemption. Don't be fooled, it is not a sure fire way to stay off foreclosure.
2007-10-23 12:09:00 · answer #1 · answered by linkus86 7 · 0⤊ 0⤋
The only reason that banks call a mortgage is for non-payment. If that's your definition of a thin reason, so be it.
In states that offer homestead exemptions at best you'll get a few $$$ off of your real estate taxes. Some -- FL and TX for example -- isolate a homestead from claims OTHER THAN back taxes or an unpaid mortgage. You'll always lose your home for non-payment of taxes or a mortgage.
2007-10-23 14:45:18 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 1⤋