A homestead exemption allows a debtor to pay a fixed debt for an amount less than was actually owed.

Name: A homestead exemption allows a debtor to pay a fixed debt for an amount less than was actually owed.
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A homestead exemption is actually a legal provision that allows a homeowner to protect the value of their primary residence from being seized to pay off certain debts or legal judgments. It does not allow a debtor to pay a fixed debt for less than what is owed.

A Homestead Exemption Allows a Debtor to Pay a Fixed