What happens to your mortgage if you sell your home for less than you owe?

We would like to move into a bigger home. We live in a small condo that we paid a lot for. We will never get as much for it as we owe for our loan, but we have out grown it. We are not in a foreclosure situation because we are making the payments on time without a problem. If we sell our home for less than it is worth, can we add the balance of our mortgage onto the mortgage of a new home, or will we owe the bank the balance right then and there?

What happens to a real mortgage when a debtor files for bankruptcy?

I’m a creditor whose debt is secured by a real mortgage. I’ve received recently a notice that the debtor has filed for bankruptcy under chapter 7 of the US Bankruptcy code. What will happen to both my loan and my mortgage? Will I be enjoined from foreclosing the mortgage? The insolvent debtor by the way is an individual, not a corporation. Please prvide legal basis.

Thank you.

What happens to a second mortgage when a home is purchased at a foreclosure auction?

I am going to bid on a house at foreclosure and it has a 1st mortgage of $280K and a second of $70K. The lender on the first two mortgages is Decision One Mortgage. The lender at foreclosure is Countrywide. Does this mean that if I buy this house at foreclosure that I will own additional money to the second mortgage or just the first mortgage and back taxes?