This will be the first month I miss the payments. I'm unsure what to do. Would it be best to simply stop payments and let it go into foreclosure down the road? Contact the bank now with a letter informing them I will no longer be making payments and would like to arrange a deed-in-lieu type of situation? Something else? Do I need to have the account in delinquency before I can do anything? I have very, very good credit so I'd like to minimize the damage that is going to be done.