Legal Question in Credit and Debt Law in California
Creditors/Homeowners
If I owe student loans to the government can I own a home. My parents want to give me an old mobile home because I don't have a place to live but we are afraid the government might try to take it from me.
Thank you soo much,
Sonja
Asked on 11/27/06, 12:00 pm
1 Answer from Attorneys
Robert Mccoy
Law Office Of Robert McCoy
Re: Creditors/Homeowners
You are entitled to $75,000 equity in a home if you are married or have children. So, if the mobile home is worth $100,000, then the government can put a lien on the home and sell it at a foreclosure sale, but only if they give you $75,000.
Answered on 11/27/06, 3:16 pm
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