Steps to surrendering (walking away) from a home?

[troubled]

So, unsuccessful negotiating with 2nd. mortgage (intent to foreclose in March, timeline puts that complete June or so). Found a great rental (better town, more space, less $ than our first alone). Ready to get going and start over (may stay here and pay toward the other place so as not to disrupt kids' school yet).

If we are going to just "walk away" from the home, is there anything we need to do?

Thanks!!!

[simplelaguna]

Hi there, just be prepared that your lender may not foreclose as fast as you would like. I am just out of my C7 discharge and have a 3 properties that have not been paid for over a year. The banks will not take deed in lieu and one of the lenders wont even file the NOD and that property is delinquent from July 08... I did however find an article today about just recording the deed to give title back to the lender, but not sure of the legality of doing so in your state or mine which is California. Thus, just be prepared to keep your insurance paid and your lawn mowed if you do walk away....