Does the Homestead Protection program apply to first-time home buyers only?

The Homestead Protection program is designed to provide a safeguard for homeowners, ensuring that a portion of their property is protected from creditors in the event of bankruptcy or other financial difficulties. This program is not restricted to first-time home buyers; rather, it is available to any eligible homeowner who meets the specific criteria set forth by the governing body overseeing the program. The inclusion of all homeowners amplifies the program's purpose of offering financial security and stability to individuals facing economic hardship, regardless of their prior homeownership status. Therefore, the assertion that it applies only to first-time buyers is inaccurate, highlighting the broad accessibility of the program to a wider demographic of homeowners.