want to bail out on 1st & 2nd mortage's

[road dog]

I am a 59 year old man with a first and second mortage I can not afford anymore.I do not want to beat around the bush with you guys so I am going to lay it out as short as I can for you.
I am married with a 16 year old girl still living with us.
What can they do as far as retriving there money and what would happen if I did this.
I already have two full time jobs and my wife has a full and a part time one also.We cut back on everything we have and it's not working,thats why I am throwing in the towel.
I owe more than the house is worth like alot of others,any kind of help would be appreciated but I am mainly curious about what would happen if I tried this.
THANK'S JOE

[road dog]

Originally Posted by road dog

I am a 59 year old man with a first and second mortage I can not afford anymore.I do not want to beat around the bush with you guys so I am going to lay it out as short as I can for you.
I am married with a 16 year old girl still living with us.
What can they do as far as retriving there money and what would happen if I did this.
I already have two full time jobs and my wife has a full and a part time one also.We cut back on everything we have and it's not working,thats why I am throwing in the towel.
I owe more than the house is worth like alot of others,any kind of help would be appreciated but I am mainly curious about what would happen if I tried this.
THANK'S JOE

Thanks for nothing.