Why would a Homestead Declaration be recorded on a property?


#1

Sean, why would an owner record a Homestead Declaration on their property after they have started the foreclosure process. Is this a reason to not purchase?


#2

Shouldn’t impact your purchase. Used to protect from claims by unsecured creditors. Mortgage debt is secured debt and therefore is exempt. See: http://www.sec.state.ma.us/rod/rodhom/homidx.htm