Introduced
by
To increase the amount of a bankrupt debtor’s principle residence value that a state law exempts from being taken to satisfy the debt, depending on the home’s value. Under current law a creditor can claim “the interest of a debtor” in the property not to exceed $30,000, or $45,000 if the debtor is 65 or older. The bill would raise the amount to $150,000 regardless of age.
Referred to the Committee on Judiciary
