However, I would NOT linger and make plans to get out immediately. Some would advise you to "game" the system and hang out until the REO agent approached you and offered you "cash for keys" but chances are you have NOT been making payments and hopefully have some funds put aside for this move. Good luck and remember, "You are NOT alone!" Don't beat yourself up over the loss of the home. I know it is very difficult and the couple I mentioned above where the kind of homeowners you hate to see leave their neighborhood. The house was presented to me in great shape, cleaned, with ALL fixtures in place.
Conversely, don't be one of those who feel they are a "victim" and take everything that is not and that IS NAILED DOWN!! Leave the home with the dignity and grace in which you treated it while an owner. Why? Because you know deep down inside it is the RIGHT THING TO DO!
If you are property owner who want to vacate prior reported on credit report, difficult locate any property owner OR apartment complex who will lease to you unless you pay higher deposits and etc.
Sorry hear all
National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
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So, if you are seller and already foreclosed then it's better to look for rental place and don't want to be rush out. And if you are the homeowner and it's not foreclosed yet then I would suggest to do short sale, if it's not affordable so that you can avoid foreclosure from your credit.
Let me know if I can assist you further.