Tam let me go on and answer your question here.
A deed in lieu here in Florida is your best option.If they accept it it should release you from further liability, no deficiency judgment against you.
Here you would need to contact lender, usually there is application procees much like an application for a loan.Here they are going to look for financial distress.If they see that you are underwater financially they are more inclined to accept that.
It is common in Florida for them to require a period of trying to shrt sale the proeprty with you being liable for the shortage or them agreeing to write off some of it.Again it depends on what the lender assesses your financial problems here.
Florida has judicial foreclosure.What this means is that there is awlays a law suit and the house is sold through the courts and there is always a deficiency if the house doesn't sale for what is owed.
I n this situation if you either deed it back or foreclosure occurs through the courts thelender has to deal with the renters.They would offer them cash for keys
here, a little moving m,oney or they can just file for eviction
.Here they are month to month likely the money offered would be low say a months rent or they may just evict them through the courts.None of this would be your problem once the proeprty is out of your name.
Please let meknow if you have more follow up here.I know this is probably a big worry for you here.Contacting the ledner here about options includng deed in lieu is your first step and it makes sense since it would get you off the hook for a deficiency judgment.
I appreciate the chance to help you today.
Reference to Florida judicial foreclosure.http://www.nolo.com/legal-encyclopedia/new-florida-foreclosure-law.html
And a Florida judgment if the lender got one is enforceable in Georgia here.It is called a foreign judgment and there is a process for that.http://law.justia.com/codes/georgia/2010/title-9/chapter-12/article-6
You want to try and avoid judgment if at all possible.