How does bankruptcy impact a foreclosure? Can it help to save your home

The deed in lieu is an attempt to have you give up your redemption rights.  I am not sure what value you are to get from signing over your house.  Perhaps the deed in lieu provides payment to you, or something else.  Or perhaps the offer is to keep a foreclosure off your credit record.  But if you have problems with your mortgage payments, there are possibly other credit issues.  You could use a chapter 13 to cure the arrearage over time.  There are pluses and minuses to a 13.  You could use a chapter 7 to free up money to correct the problem, but that is probably too late.  There are some options in the foreclosure process itself.  My law partner has a lot of experience in foreclosure defense.  I've been practicing bankruptcy for 34 years,   My thought is you should make an appointment with a lawyer to discuss this more fully, and review your situation.  We don't charge for that consultation, and many other bankruptcy lawyers don't either.