I will leave my personal story out of this, but after exhausting all other avenues, my husband and I have decided to let our home go back to the bank.

My question is: how, in general, does the foreclosure process work?

We have not made a payment on our home since August ‘09 and are with Bank of America (Countrywide). Today our neighbor told us that someone claiming to be from BofA stopped by their house to do a ‘residence check’ to see if we in fact lived here. In my research I have not heard of this, or what stage in the process we must be in at this point for that to occur.

Anyway, any help would be much appreciated.