I have read a lot about Black holes and have gained wisdom of the subject. My question- are there such things as white holes- and if so- what do they do?

Before I answer this question I would like to point you to Kate Becker's discussion of why it is so hard to understand the expansion of the universe. The exact same argument applies here. White holes are not something that it is possible to understand using physical intuition. White holes pop up in general relativity (which also explains the expansion of the universe) and that theory as a whole is not easy to understand physically. The only way most people can understand general relativity is through mathematics, which, like Kate said, it not the way that most people are used to understanding things.