Section 517 of the SSCRA pertains to written agreements entered after commencement of military service. It says that nothing in this Act (sections 501 to 593) shall prevent the modification, termination, or cancellation of any contract, lease, or bailment or any obligation secured by mortgage, trust deed, lien or other security in the natur of a mortgage... pursuant to a written agreement of the parties thereto (including the person in military service)....
Therefore, if the parties agree, you can take the property through a deed in lieu of foreclosure.
Like Andy said, I would run this by the legal department to insure the written agreement is worded correctly.