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Sponsor seeks to raise Maryland homestead exemption to protect older and low‑equity homeowners
Summary
Delegate Vaughn Stewart proposed raising Maryland's homestead exemption from roughly $31,575 to $150,000 (and $300,000 for certain seniors/veterans), indexing it to inflation and extending protection to revocable living trusts; legal aid and consumer groups supported the change as a way to prevent loss of housing through creditor actions.
Delegate Vaughn Stewart told the committee Maryland's current homestead exemption—about $31,575—has been eroded by rising home prices and no longer protects many homeowners from losing equity in sheriff sales or judgments. His bill, HB 10-98, would raise the base exemption to $150,000, double it for veterans and certain seniors/disability households to $300,000, index both amounts to…
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