Giving Back A Property To Bank
I know the pot-shots are coming, but here goes...
I purchased a house earlier this year all wrong. The numbers all the way around were wrong. Needless to say I could not exit out of it and it appeared on the foreclosure report. However, there were no takers, of course. I'm still getting note due statements and I have no money. Can I give this property back to the bank? Does a term like "Lis Pendens" (spelling???) have anything to do with this situation? I tried to deed in lieu of foreclosure, but the bank wanted to put a lien against my personal home, which I didn't go for. Help! 
Giving the property back to the bank
is what you already attempted. That's
called a Deed in Lieu (of foreclosure).
See if some equity buyer (we buy houses guys) will take it off your hands.
Because I am still getting payment due notices the property has not been foreclosed on yet eventhough it went to the steps already. I really want the bank to take back the property. What can I do?
You are in a fast foreclosure state, my guess is that even though there were no bidders that the bank actually bought it back. If they wern't prepared to do so, they would not have moved forward with the autcion.
If indeed they did not buy it back, it may be worth a call to the Loss Mitigation Department to the bank to see if they will work out any other options with you. Call them right away!
BAMZ
Ooops! Did I forget to mention it is a hard money loan?
Do the same rules apply and/or is the noose bigger?
lis pendens means litigation pending. It is a notification that there may be a future judgement against the property that will attach as of the date of the lis pendens.
Chances are the HM lender does not want the house either - I would try and mitigate a deal.
Since we don't know what the numbers are, actually, it's hard to advise you on this any better.
C-
How big is your mailbox. If you have decided to give it back and do not care about it what are you worried about. Can your mailbox handle all the notices. Just get a bigger box and do not worry about it unless you are trying to save your credit, equity, or cash. The hard money guys know the risk and most are quick to foreclose so they can turn it for a profit themselves. Mine loan 70% of the ARV and escrow for repairs. They told me that if I do not make it work that they will.
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr