#614 How Lawsuits Can Take Away Your Home (And How to Stop It!)

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4 • 584 Ratings

🗓️ 20 March 2026

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you got sued tomorrow, could you lose your home? In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down the real risks to your home equity — and the smart strategies you can use right now to protect it before it’s too late. From homestead exemptions to equity stripping, this is essential knowledge every homeowner and investor needs to understand. We dive into how different states protect your home, when creditors can (and can’t) touch your equity, ...

Transcript

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0:00.0	If I have a lawsuit in my life, am I going to be forced to sell my home? Well, one way to avoid that is to strip out the equity in your home.
0:08.4	This puts a lien on title, and it shows debt against the asset, which means a creditor can't get at that equity in your home anymore.
0:14.9	I had Dave Ramsey over here. He'd be like, hell no, because what's one of his primary strategies he teaches is pay off
0:23.2	your home mortgage. Okay, now I'm not paying interest anywhere. That's great. And if someone
0:27.5	sues me, is that equity at risk? Welcome everybody to the Main Street Business Podcast.
0:38.2	My name's Mark Kohler.
0:39.5	I'm here with my incredible partner, Matt Sorensen, talking about issues that affect everyday Americans in the tax and legal area.
0:47.9	And we love talking business because if you own a small business or you invest in real estate,
0:58.2	you're going to have to be somewhat of an expert with tax and legal.
0:59.6	You are the captain in your ship.
1:02.7	You've got to be aware of issues so you can better direct your professionals.
1:06.4	Today's topic, protecting the equity in your home.
1:08.4	This is a big one.
1:13.0	Sometimes our home equity is our most valuable asset. And it's scary.
1:18.6	A lot of people are nervous about it. Yeah. And we want to know, like, if I have a lawsuit in my life,
1:24.8	as my equity in my home at risk, am I going to be forced to sell my home? Could a court force me to sell my home? We definitely don't want to be in that situation.
1:27.5	And because real estate is appreciated over time, many of us have built wealth, we've
1:33.1	been paying down our mortgage, we've had some benefit of appreciation over time.
1:38.3	We're talking hundreds of thousands, if not millions of dollars of home equity that could
1:42.3	be on the line for us.
1:43.3	So how do we make sure we protect that and keep that? That's what we're going to hit in today's podcast. Yeah. And now here's an initial disclaimer. And it's not the one you think is going to, I'm going to say. Here's the disclaimer. There are a lot of strategies. There's a lot of options. They're going to be based on your state,
2:02.4	based on how much equity you have, what type of exposure are you creating in your life.
	...

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