Repercussions of unable to repay the Mortgage - whats worst that could happen?

[cnu]

All Greetings!

Apologies for asking a real dumb question.

What would happen, if a person is unable to pay his mortgage and just walks outta the property?

* Re-possess the house and log the person's name in the credit-history register

What else will/can the bank do? What else worse could happen?

tia

 

[Towger]

This is Ireland, so they will be after you for any shortfall after selling the house and deducting all their costs from the proceeds.

 

[dewdrop]

If a person owed you a certain sum and then paid you only part of it would you just say goodby to him/her