[mjshira]

I think his best strategy is to get everything ready to execute giving the home back to the bank. Then, lawyer in tow, go meet with the bank. push for the most senior person you can get at the bank. then have a reasonable proposal ready, one that involves staying in the home, but with a lessor payment. that way, if the bank doesn't work with you, you can always fall back on having made this good faith attempt. I'd also like to know if it were me, what the foreclosure percentage is for his area, what the better business folks say, etc.