This post will discuss more of the differences
between voluntary surrender of a home to a lender and letting a house go into foreclosure, what happens when you file for bankruptcy instead of opting for foreclosure, and how long either a foreclosure or bankruptcy discharge will stay on your credit report.
Contract - a mutually agreed upon arrangement
between two Individuals whereby their reciprocally inequitable value scales have led them to trade marginal units of something they have for units of something they don't have which is of greater perceived personal value than the marginal units being
surrendered; a
voluntary, bilaterally beneficial interaction of trade