You cannot give your home back to the bank because that would imply that the bank once owned your home. You can give your home to the bank by letting the bank foreclose without making up your back payments, but you cannot give BACK your home. If you want to speed up the process and do your bank a favor, you can always offer your bank a deed-in-lieu of foreclosure. Banks must approve that type of transfer, and not all banks will let a borrower sign a deed in lieu. But under no circumstances are you ever giving your home back to the bank. The bank might seize your home but it can't take back what it has never owned.
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At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.