In many cases the agreements are negotiated by the real estate agent that represents the bank. In other circumstances, the attorneys for the homeowner and the bank come to terms on an equitable cash-for-keys scenario.
Before you decided there is no other option give a call to
HOPE NOW is an alliance between HUD approved counseling agents, servicers, investors and other mortgage market participants that provides free foreclosure prevention assistance.
1.888.995.HOPE. or check out http://www.hopenow.com/