A homestead protects a certain amount of equity--up to $500,000 if you do it right. If you have more equity than that the lien is effective. If you have less equity than that, you may be able to strip the lien.
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A recorded homestead does not stop anyone from putting a lien on the property. What the homestead does do is protect equity if they were ever to try to go to a sheriff sale. Keep in mind that a homestead only protects you so long as the property is your primary residence and all bets are off if you ever move out.
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