5. i was SO beat down (along w/some very poor herd mentality investments in other things) that i am now committing @Will Barnard 's other mistake of spending 4yrs - currently in 2nd year - of wanting/planning to get back on the horse before really doing it (again). 6. working backwards from goal to action steps and committing each day or regular period time per week towards attainment of that goal - while consistently networking... working on that now... :) 7. and lastly... knowing the numbers, the market, the area, and the numbers - practical and on paper.

But, back to your questions...Take action.

Trust me, this is the best course of action.

But because of the broker's actions, I doubt she would put up much of a fight as she knows she acted detrimentally with her clients.

The accounting entries for the action are two fold.

The borrower must willingly and without coercion give title to the Mortgagee in lieu of the foreclosure action in exchange for satisfying the debt that is owed.

Education is great but action supersedes it because, with action, you are acquiring educational experiences that likely resonate much more than any professor or book could do. 

I am pretty new to REI, although ive tried a few things just to take action and read a lot of information lol.

I assume there is some sort of contract that needs to be handled by a lawyer, but is there any other significant action I would need to take?

I have done this many times (too often in fact)  telling the lender that they may become liable in taking unnecessary actions that amount to punitive dealing destroying a borrower's credit, ability to borrow, loss of equities and displacing them when there is means to indemnify the lender from any financial loss.