Wow. I went through EXACTLY what you went through just this past year! We had to "walk away" from our townhouse and were able to get a house in my hometown last August thanks to my wonderful family. I don't like to tell people because I feel like such a low-life doing it, when really I had no choice either! The bank just wouldn't work with me and we needed to leave while we could still afford food. The bank would have foreclosed anyway...I'm getting off topic sorry.
Just be honest. You are moving and even though it's not for a few months, you won't be insured and have to close sooner than expected. I'm sure the families will understand that moving/relocating can be a complicated process, especially when you throw in the whole bank situation. IDK if I would personally mention that part, but in my experience, people asked me if I sold my house, and what else could I say? I had to tell them, because I don't lie. So it might come out. Just a heads up.
If you are upfront, then you shouldn't have any trouble. They will respect your honesty, and it will avoid any future awkwardness should they see you around. At least they'll know what's going on.
This stuff s#$%s and I'm sorry you have to go through it too!
