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 Los Angeles County Homestead Declaration Form 2007

Homestead Declaration Los Angeles County 2007-2025 Form

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[Music] today we're going to talk about the homestead exemption in California do you need it or should you just ignore it let's get into it today we're going to go into what a homestead is an automatic Homestead and a filed homestead exemption what are those two differences the limitations to homesteads and how to file your homestead exemption if that's something that you want to do [Music] so what is a homestead a homestead exemption protects your primary homes Equity that's the home that you live in from creditors up to a certain amount and for those of you that don't know what Equity is here's equity in a nutshell Equity is the difference between what your home is worth in today's market and how much you owe on the home so here's an example if your home is worth say 800,000 and the balance of your mortgage loan is 500,000 then you have $300,000 in equity as of 2021 the EXT uh exemption amount per the California

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