Fact Pattern 29-2B (Questions B17-B19 apply)
Robin's home is in a state that has a $30,000 homestead exemption. Robin de?faults on a $60,000 debt that she owes to Suburban Mortgage Company. Robin's home is sold at auc?tion for $80,000.
-Refer to Fact Pattern 29-2B. Suburban Mortgage may recover

Question

Quizplus · Accepted Answer

Since Robin's home was sold at auction for $80,000 and the state has a $30,000 homestead exemption, the remaining $50,000 can be used to satisfy the debt owed to Suburban Mortgage Company. Therefore, Suburban Mortgage Company may recover $50,000 of the $60,000 debt owed.

Fact Pattern 29-2B (Questions B17-B19 Apply)