I've gathered more knowledge than I can implement with all the BP content and other materials, lol.

Happy to connect and knowledge share if you are interested.

It could be a nice opportunity however I would be certain they will want you to make up the difference between $250,000 and whatever is left on the mortgage which btw in my opinion should be done with lender's knowledge and approval. 

The agreement of forbearance or modification should have the borrowers knowledge that they are in default, that they understand that the lender is forgoing foreclosure at this time in exchange for the deed in lieu, and that the borrower is represented by legal counsel.  

Thanks in advance for your response and knowledge!

Wade is a wealth of knowledge when it comes to real estate and note investing.

Your knowledge in construction, design, and different strategies will be a big help to the community.

A knowledgeable real estate agent and property manager with local market expertise can help you navigate neighborhood dynamics, connect you with contractors, and even identify off-market deals that fit your strategy.

It takes time and knowledge.

I think any seller without much knowledge of being the lender would appreciate the added benefits and hassle free approach using a third party.