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Mario, Home Buyer in San Francisco County,...

Is a Declaration of Homestead necessary for a home?

Asked by Mario, San Francisco County, CA Wed Nov 28, 2012

I just refied on my condo, which is a permanent residence. I was sent a solicitation for a Declaration of Homestead, which I had never heard of before, even when I originally purchased. Are these declarations meaningful and worthwhile?

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Everyone gets the solicitation when they buy a home – it’s from a company that makes their money charging you to do something you could do free of charge yourself. California automatically provides basic Homestead Declaration rights when you purchase a home. Most homeowners I know have not filed a Declaration of Homestead.

Here is a post that explains it in detail:
http://www.chicagotitleconnection.com/images/PDF/HomesteadDe…
1 vote Thank Flag Link Thu Nov 29, 2012
Thank you! That's exactly what I needed to know!
Flag Thu Nov 29, 2012
Hello Mario, A homestead doesn't stop creditors from applying liens on your property but only protects your home from you having to sell it to pay the liens. When you do sell or refinance, any liens will be paid at that time... In California, you are automatically protected under homestead up to $45,000 or so the last time I checked. You can fill out the form and have it recorded yourself. There is a small recording fee of $25.00 and here is the form and a little information regarding Homestead.

http://www.caldocs.com/resources/publications/real-estate/Ho…

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker – Sr. Loan Officer CA only
REO & Short Sale Specialist
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Sat Dec 1, 2012
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