Courtesy of Kriss Law UPDATE: HOMESTEAD LAW CHANGING Governor Patrick signed into law Senate Bill 2406 which is the most sweeping revision of the Massachusetts Homestead Statute in many years. The revised Statute addresses many issues that were previously left up in the air including whether a Homestead Declaration is revoked by a refinance who is actually entitled to Homestead protections. Highlights of the amended law are: Automatic $125,000 Homestead exemption even without filing a declaration - $500,000 with a filed Declaration No need to re-declare your Homestead after refinancing Exemption covers even preexisting debts but not mortgages on the...
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