On Dec 22, 2:12*pm, Home Guy wrote:
harry used improper usenet form when he unnecessarily full-quoted:

So, what happens if you can't pay your mortgage? It sounds to me
that the borrower is worse off than in the UK or Canada?

You sell your house. *What's what happens.

What happens if your house is worth substantially less than the money
you owe?
In the UK, you have to pay it back. If you hand over the keys, the
bank sells your house, probably for even less than that. You still owe
them the difference. People end up bankrupt. Still, they can't go in
for any more foolish loans.