People want to know more about how to do a grant deed in lieu of foreclosure.

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Just as a quick reminder, a grant deed transfers title to your house, in this case to the mortgage company. In return, you have to get them to agree to cancel your mortgage. They often won't do that. So you can grant deed your house to your mortgage company in lieu of foreclosure, only to find that all the fees and charges and losses they incur are being charged to you.

So if you are going to do a grant deed in lieu, make sure you negotiate first. Negotiate how the lender reports to the credit bureaus. You want "PAID - SATISFACTORY" or "PAID - SETTLED" at worst. And get them to waive any deficiency. Make sure you get this in writing. Then you will be able to grant deed your house — or warranty deed or quitclaim deed it, depending upon what your attorney says — and can get out from under.