Legal Question in Real Estate Law in Massachusetts

Re: homestead

Filing for the homestead exemption protects the first $300,000 of value in your home from being attached or seized by creditors, then sold, to satisfy debts you owe, usually civil judgments for injuries to others. Equity above $300,000 is unprotected from attachment.

If your refinance says you've waived your homestead rights, the lender probably made you do that as security in the event you defaulted on the loan. Having waived homestead, it looks like if you default, the lender could seize your house, and sell it in a forclosure, and apply the proceeds from your equity to pay off the amounts remaining on the defaulted loan. In other words, you have no $300,000 protection.

If you are still able to file for homestead protection, I urge you to do so. Its a form and a filing that can be done in a day or two. Contact me if you'd like me to look at the documents and file for protection if you're still able to do so.

Dower and Curtsey is an antiquated doctrine that, I do not believe, has much relevance today.