Case established the amended Homestead Exemption as against unsecured creditors who had contract claims against Debtors for Debts that were incurred prior to the New York laws amendment. The prior exemption amount was $10,000.00. This greatly increased the number of homeowners who qualified for Chapter 7 relief. A number of Constitutional Claims were interposed to limit the application of the new, higher homestead exemption amount. On August 30th, 2005 New York State passed an incrased homestead exemption in light of the amendments to the Bankruptcy Law. To my knowledge we were the first firm to cliam the new exemption amount in a Bankruptcy Petition.