Do mortgage companies make money out of repossession?

Do mortgage companies make money out of repossession?

No, mortgage companies don't make money out of repossession. In fact, the reverse is true. It can quite often cost them money. All of their costs and fees are added to mortgage accounts, so it doesn't actually necessarily cost them if the house is sold with all of those costs and debts being paid off. However, if a house is sold either below market value because of the state of the property or because of market conditions at the time, then you could find that there's a shortfall on the mortgage debts as to what the house has been sold for, which you could be held responsible for. But typically the answer to that is no.