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New Washington law has made it easier to keep your home amidst filing for bankruptcy

The homestead exemption amount is now based on the median sales price of a home in the county that you live. Sponsored by Advantage Legal Group

The COVID-19 pandemic has caused financial stress for people all over the world. Many in Washington state are particularly worried about making mortgage payments once the forbearance period comes to an end.

Bankruptcy has not been a great option for homeowners in the past, but the new Washington state homestead exemption law aims to keep people filing for bankruptcy from losing their homes. Attorney at Law Jonathan Smith joined New Day Northwest to explain how it works and what has changed.

If you ever filed for bankruptcy in the past or are thinking of selling now or in the future, call Smith's office at 425-452-9797.

Sponsored by Advantage Legal Group. Segment Producer Rebecca Perry. Watch New Day Northwest 11 AM weekdays on KING 5 and streaming live on KING5.com. Contact New Day.