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. Robin will receive

Question

Quizplus · Accepted Answer

The homestead exemption in Robin's state is $30,000, which means that Robin is entitled to keep $30,000 of the proceeds from the sale of her home. The remaining $50,000 will go towards paying off her debt to Suburban Mortgage Company. Robin will not receive any additional money from the sale.

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