text: Jail?  No.  Debtors prisons went out way back!  \n\nCouple of things you need to be aware of though ... should the home go into foreclosure - that means the lender had to file legal action against you to obtain the right to sell the property. \n\nIf you do a "deed in lieu of foreclosure" you can save yourself a LOT of money.  That would be deeding the RE (real estate) to the lender without them having to take you to court to get it.  \n\nSometimes a "quit claim deed" is requested of the lender instead.  \n\nNow ... if the lender sells the home for a lesser amount that is owed on it, you will owe the defincency balance.  The things you mention that you have:  a clear home, money in the bank ... etc etc etc.   Those things can be attached by the lender.  Yes even your home.\n\nTalk to your lender - they have been there before I'm sure. \n\nSee what they suggest.\n\nGood luck.