There is no benefit to voluntarily leaving a home early that is upside-down in value.  You can stay in the house regardless of the shortfall, but when you pass or must leave the home due to the need for assisted living, etc., you must inform the lender that you will be vacating. Your heirs can pay off the debt at 95% of the home's value if they wish to keep the property, but if not, you can deed the home back to the bank if the title is clear, or the bank will initiate a foreclosure. Either way, the lender cannot seek repayment from any other assets.