Washington State Homestead Act House Bill 1805
This act relates to increasing the homestead exemption amount from $40,000 to $125,000.
This bill is very important, especially for low income or older persons, and people who have unforeseen medical problems that lead to medical bankruptcies. Because of the inadequate homestead exemption, these people will lose their homes in the bankruptcy. It is a requirement of the Washington State Constitution that we have a reasonable homestead. The purpose of the homestead is to protect families and children from losing the benefit of home ownership in hard times.
Click below for further information on how to protect your equity in your home.
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