I invite you to contact us and ask us any other questions, even for more info about the deed question.
I wish you the best with it.
I totally agree with William Metzker's answer to your question. Every bank's policy is different, so there isn't one stock answer to this question. You need to inquire at the bank to know for sure. If they do not want to accept a deed in leiu, I would suggest a short sale if there is a hardship situation. You need to put the home on the market with a Realtor first. Then the Realtor would help you with the short sale process. Good luck.
Sheri Mapes the Cincy House Expert