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Money Buzz 09/02

The end of state homestead exemptions may be in sight, credit and debit cards join forces, and more.

This story appears in the September 2002 issue of Entrepreneur. Subscribe »

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Ready for more Enron fallout? Prompted by public outcry over the many company executives who will keep their multimillion-dollar Texas homes after declaring bankruptcy, Congress is pushing for an end to state homestead exemptions that shield primary residences from bankruptcy proceedings. States like Texas and Florida, where there aren't any limits on the value of the home are primary targets of legislation that seeks to set a national maximum exemption of $125,000.

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