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[Q=tanyad109]...they told us that they would offer some sort of deed-back or surrender program but we need to send them $1000. We will proceed to do this with a contract...[/Q] As others have told you above, you don't really need to send them $1000. You can just stop paying and they will terminate your contract. The only advantages that sending them $1000 will get you is: 1) No harassing collection calls or letters; 2) A possible (and I emphasize "possible") protection of your credit score and history; 3) The process done faster; 4) For some people, a clear conscience knowing they are not stiffing someone to whom they owe money. If none of these are important to you, then just don't send any money and save yourself the $1000.