Exhibit 31.2

                                 CERTIFICATIONS
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I, Erin N. Ruhe, certify that:

1.   I have reviewed this annual report on Form 10-K/A of HomeFed Corporation;
     and

2.   Based on my knowledge, this annual report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this annual report.

Date:  May 12, 2005


                                     /s/ Erin N. Ruhe
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                                    Erin N. Ruhe
                                    Vice President, Treasurer and Controller