> You're under no obligation to the bank Yes you are. You signed a contract. This gives you an ethical if not a moral obligation. You have a legal obligatio

> You're under no obligation to the bank Yes you are. You signed a contract. This gives you an ethical if not a moral obligation. You have a legal obligation to pay in all states, which is why the lender can foreclose on you if you fail to do so. In some states, you also have a legal obligation to make the lender whole if they can't recoup their loss with the foreclosure sale.