Missouri currently allows you to save your home and protect it from your creditors as long as you have $15,000 or less in equity in your home. Equity is the value of your home that exceeds any mortgages. However, if you have more than $15,000 in equity in your home, a creditor that has a judgment against you could have the sheriff sell your home. The proceeds from the sale would go to pay off the creditor and any other liens. If there is any money left over, you may be entitled to it. If you have a judgment against you, you may want to talk to an attorney.
Visit our website at www.Hoorfarlaw.com.