Homeowners with little or no equity value can free themselves of their mortgage commitment and save their credit rating. How?  FHA and VA loans are assumable! While equity values are declining, the reality is the assumable price may be more attractive to buyers.  A mortgage assumption involves simply finding a willing and able buyer to take on the responsibilities of your current home loan. The buyer will relieve you of your debt obligation to the lender and take over all remaining payment for the duration of the loan. You will be released of all liability associated with the loan and property. This is an easy alternative selling strategy.

Let someone else take over