terms of the deal are simple. If you don't want the house you walk, get bad credit, and the bank gets the house. That's the agreement. To say otherwise, is a misreading of the terms of nearly every mortgage. Of course, some mortgages are recourse and some states have deficiency judgement statues... but the four corners of the mortgage are clear. You can walk... that's the deal you made... that's what "non-recourse" means.