What would I owe if I were to walk away from my home. It is a 380,000 mortgage and the house is probably worth 330,000 right now. Would I be responsible for the loan or how does that work?

If you still owe say $300, and they sell it for $220, then you would owe the difference of what you owed and what they sold it for.

I believe that if the bank bid the full $380,000 at the sale, which is typical, you would not be liable for any deficiency. Though it would show on your credit as a foreclosure of course.

If the bank offers it for less at the sale and someone buys it for less, you could have a deficiency judgment for the difference.

Some states protect you from that if it's your homestead though, I believe.