[sbeanie1963]

...without going in to foreclosure?

[Wordsmith]

I don't think so. They probably don't want it. You can sell it and pay off the loan, though.

[877YouKeep]

that is the process of giving the house back, there are a few requirements that have to be met in order to complete a Deed in Lieu (DIL). A DIL for a lender is considered as a last resort because it does show as a foreclosure on your record. I am far from a credit expert but I have heard it take 1 to 2 years off of your credit reporting of the foreclosure? The most important criteria is there are no other liens or judgments plus:

a DIL will be considered if:

• The property has been listed on the market for fair market value for three or more months without a reasonable offer (listing time can be less in some instances)
• Death of a borrower that has no assets
• Involuntary inability to pay that is permanent or long term
• Can not retain ownership of property
• Has been discharged from Chapter 7

There are also some quirky instances that may fit

*In some instances you can get cash for your keys, especially in a state that has a long redemption period (always ask for cash)