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If your mortgage lender is the judgment creditor in this instance, the $75,000 exemption doesn't allow you to shield that amount from the creditor. In other words, you can't get $75,000 of equity paid out to you before the lender is paid in full.
If the judgment creditor is not your mortgage lender, you are entitled to the equitable exemption of $75,000 BEFORE a creditor, who is not secured by your home, can recover any money from the sale of this property.