Its called bailout yourself. Simply give up the propery instead of having that HUGE investment that might NEVER end up getting you cash back when you sell it. People are getting smart to the effective use of foreclosures, and telling the banks to shove the excessive closing costs associated with a home. Your paying the banks back about 2-3 times what the house is worth in interest, why the heck pay them closing costs as well? Because they can get away with it, thats why.