Falling paying the mortgage, and then?

In Ireland, If falling to pay the mortgage, and the bank forecloses your house, do you still own the bank the different between the owned amount and the value of the property at the moment of foreclosed?

I mean if you own the bank 200k for the mortgage, but the market value of the property is 150k, and tha bank forecloses your house, do you own the bank 50k after the foreclose? or the debt is setoff, 0.00?

the fact is I am confused with the NAMA Acts...

Many thanks

NAMA has nothing to do with private individuals.
You are responsible for any shortfall in the sale of the house and the outstanding mortgage + costs incurred by the banks, which can be substantial.

yes you do.

As per post above ... NAMA isn't involved. Just you and the bank who gave you the mortgage.