A Florida appeals court has ruled that funds available but not yet withdrawn from a reverse mortgage line of credit are protected under the state’s homestead exemption and cannot be garnished.

The March 25 decision by the Fourth District Court of Appeal found that a creditor could not force a homeowner to access unused funds from a Home Equity Conversion Mortgage (HECM) to satisfy a judgment. The decision is related to a previous case, Jhelum Enterprises LLC v. Desmarais.

Jhelum Enterprises LLC won two judgments totaling $54,863.89 against Oceanside Automotive Service and Towing LLC. In 2011, a Palm Beach County details ⇒

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