Answer:
protected by 15,000
Explanation:
the owner equity in the property is for:
60,000 - 35,000 = 25,000
the exemtion is up to 15,000
When the exemption is greater than his equity in the house the creditors can force the sale like in this case. However the man will receive proceeds from the sale.
After the mortage is paid, the proceeds form the sale will split 15,000 to the man and the rest from the credit card debts.
