The study goes on to find that the majority of homeowners in danger of foreclosure could afford to rent their current house at a fair market price, which makes the proposed legislation viable. (totalmortgage.com)
Generally a mortgage company will only consider a deed in lieu of foreclosure if the loan is in default and in imminent danger of foreclosure. (kcbankruptcy.com)
For those in more serious situations in danger of a foreclosure, there is a way to give the property back to the bank. (fha.com)