No, any value outside of what is owed to the bank. If you take out a 300k mortgage and pay it down to 150k principle then default, the bank sells it for 250k a

No, any value outside of what is owed to the bank. If you take out a 300k mortgage and pay it down to 150k principle then default, the bank sells it for 250k and gives you 100k (minus associated costs).