What financial responsibilities do I have when my house is foreclosed on?

When your house is foreclosed upon, the financial responsibility is primarily to the mortgage company for all amounts that might arise due to the default, as outlined in the mortgage. Read it. If you cannot find it in your own papers it was attached to the foreclosure complaint. Basically, attorney's fees, court costs, late fees, interest, and any deficiency are what you are responsible for.

Your rights and responsibilities vary depending on what state your house is located in, but generally you can be held responsible for the judgment on the unpaid mortgage. Best advice is to consult with an experienced attorney who can negotiate with the lender on your behalf and avoid having any deficiency judgments taken out against you.

You have the responsibility to pay the mortgage note and perform the obligations you agreed to perform in the mortgage which you signed. I assume that you are unable to pay the mortgage note and do the other things you agreed to do in connection with the mortgage. If there is equity in the home, you could try to sell it. You might want to see if the mortgage company would take a deed in lieu of foreclosure from you and any other mortgagor of the property. There are a lot of clinics available that assist people with foreclosure issues and you might want to talk with one of them to get a better idea of what you can do. You could also consult with an attorney to determine what possible remedies are available to you.

It depends on the state where your property is located and the type of debt - purchase money vs non-purchase money.