The Nebraska homestead exemption protects up to $60,000 of equity in your home. However, in today's housing market, home values are rising and you must take efforts to carefully value the home. In cases where there is more than $60,000 of home equity, you do not want to be in a Chapter 7 liquidation bankruptcy. Rather, you should opt for the safer bankruptcy alternative, Chapter 13. Unlike a Chapter 7 case, the trustee in Chapter 13 has no power to take away assets.
Sam Turco Law Offices, PC LLO
3006 South 87th Street, Omaha, NE 68124
5000 Central Park Drive, Suite 204, Lincoln, NE 68504
Telephone (402) 807-2030