Montana law provides homeowners with a homestead exemption of $250,000. That means that unsecured creditors cannot touch the equity in a homeowner’s home unless they have more than a quarter of a million dollars in equity in that home.
So long as the homeowner has $250,000 or less in equity in the home and continues to make regular mortgage payments, the bankruptcy court is likely to allow the homeowner to keep the home in a bankruptcy proceeding.
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