I guess I missed the humor. I hope your friend realizes this could turn out bad. I used to work in mortgage collections for many years and if I were to receive a letter like that the first thing I would do is order an appraisal. And you know who pays for it? That's right, the fee got passed on to the debtor. A letter of this nature can be taken as an intent to vacate & abandon the property. Makes no difference if the payments are current or not. Had plenty of people who sent in letters like that who were gone by the time the appraiser got there. If the property appraised well, a DIL MAY be offered. (Deed in lieu of foreclosure). If not, a RTC (right to cure) would be sent. Most mortgages I know have an acceleration clause. If your friend ever had a history of abusing his mortgage-late payments, extensions, failing to cover escrow, he/she could find themselves on the courthouse steps trying to get their house back! Not to mention the beating his/her credit would take after loss mitigation starts reporting. And, that would really take an act of Congress to get out.
Almost forgot...directions to the appraiser on the work order: Secure if vacant or appears to be vacant.
