Sorry but none of these options are acceptable to the lenders. Current practice is a "short sale". The lender would have to agree. Under the Fed laws just past, the lenders are a little more receptive to short sales. They know what the market value is and they may accept a bid from a well qualified buyer, if they can settle near the market value. It is not easy and only a short sale expert should be used.

I doubt that the bank is giving out any 100K personal loans to deadbeat homeowners to help the deadbeat homeowner avoid foreclosure.

I don't see why you couldn't do it. I haven't heard about anyone doing exactly that but I wouldn't be surprised considering the large scale depreciation we've seen if that is becoming more common. Sellers provide financing for buyers all the time, so I don't know why it can't work the other way around. Though I am not by any means a real estate or finance specialist.

sorry to add more to this, I suppose my theory is that a lender would rather make the personal loan as to avoid short sale or foreclosure, and with the personal loan for the seller to bring to closing, the lender would still have an obligation from the seller to pay those funds back, although now it would not be collateralized by the house. make sense? anyone hear of this?