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by Sharona Life is a Tale Told by an Idiot on July 30th, 2009
They can try to go after what is needed to get money, but it is really tough to get someone's home.
by joesephdoakes on May 28th, 2011
Unless the plaintiff is someone like a mortgage holder on your home, the answer is almost always that a person's homestead is exempt from execution. No, they can't.
by OhLook - IamNoLongerAnonymous on July 30th, 2009
Yes, but with one limitation. Most states have a homestead exemption that protects a certain amount of equity in your property against a judgment. Moreover, in order to foreclose on the property, the foreclosure must cover a significant portion of the judgment. Thus, unless you own your home, there will often be too little equity ton allow foreclosure.
For example, suppose you have a home valued at $500,000, with $160,000 of equity in the home. Suppose I have a judgment of $10,000 against you. Now suppose that the homestead exemption in your state is $150,000. In this case I can foreclose on your house because after deducting the homestead exemption, the equity would completely pay off my judgment. Of course, if you were smart, you would simply pull a loan against your equity and pay off my judgment.
No suppose that my judgment is for $100,000. In this case I could not foreclose. Even though you have enough equity to cover the judgment, $150,000 is protected. However, I could file a lien against your property, and collect once you sell the property.
I live in iowa. Can a lawyer and executor count a IRA and Trust account as part of the estate if I am a beneficiary.
by monica. on August 24th, 2010
| 1 person likes this
In iowa that are the charges for a MIP and DUI for minors?
by britt.jo on September 12th, 2010
| 1 person likes this
I live in Joice Iowa. My city just put in water last year. They are sending water bills to everyone in town, even the people that did not put in water and wanted to keep using there wells. Can they do that.
by candycan on September 3rd, 2008
| 1 person likes this
Is there Grandparents rights In Des Moines Iowa
by kristilynn69 on July 11th, 2008
| 1 person likes this
How many states have people in court trying to say, "Yellow MEANS STOP!"? Iowa does.
by wiseacre on June 29th, 2011
| 2 people like this
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