Depending on when your home was foreclosed on you may still be within the redemption period. The lender is a bill collector and will try and get any money from you that they can. If there is enough time left in your redemption period you may be able to short sale the home if you're underwater on the mortgage. If this is your primary residence you may be able to waive your deficiency.
If you would like more information please feel free to email or call me. I would be happy to assist you.
Karen Paytas, GRI, CMS
Real Living Kee Realty