A Florida homestead exemption dictates how much of the equity in your home you may keep away from creditors. This means that any equity you have above that amount must be paid to creditors. The federal homestead exemption amount is $21,165.00. The Florida homestead exemption amount is unlimited under certain circumstances. This means that in Florida, you can have any amount of equity in your home and your creditors cannot take it. This is great news for those in the Jacksonville area who are overwhelmed by their debt and are needing to file for bankruptcy. Contact a Orange Park bankruptcy attorney today to discuss how to keep your home by filing for bankruptcy.