What is the name of your state? CALIFORNIA
I live in California now and own a house here. Because the value of this house has dropped, it is worth LESS than what is owed. I just bought a house in Oregon and plan to move there in a few months. I have about $60,000 equity in the Oregon house.
If I move to Oregon, start living in and homestead my house there and file a bankruptcy in Oregon after 4 or 5 months, the new BK law says I can't use Oregon exemptions, which is OK.
Oregon has about a $33,000 married homestead exemption and California's is much higher. Do I get to use the generous California married homestead exemption or do I get stuck with the dinky federal homestead exemption for my Oregon house? What is the name of your state?
I live in California now and own a house here. Because the value of this house has dropped, it is worth LESS than what is owed. I just bought a house in Oregon and plan to move there in a few months. I have about $60,000 equity in the Oregon house.
If I move to Oregon, start living in and homestead my house there and file a bankruptcy in Oregon after 4 or 5 months, the new BK law says I can't use Oregon exemptions, which is OK.
Oregon has about a $33,000 married homestead exemption and California's is much higher. Do I get to use the generous California married homestead exemption or do I get stuck with the dinky federal homestead exemption for my Oregon house? What is the name of your state?