Home foreclosed in las vegas,

Question

My home was just foreclosed on in las vegas. Can I still homestead my primary home in south carolina? It just hapened 3 days ago. Im expecting the pmi company to try and come after us. I was reading the south carolina laws and the exemptions for south carolina is $5000 per debtor, What does this exactly mean? My home is worth around 500,000, does this mean that they can only get 5000 from lien on house?

Answer 1

Sounds like the other way around, the $5,000 exemption means you get to keep the first $5,000 so they don't totally clean you out.