How to get a possible investor/buyer to take possession of my home & pay the mortgage until they can sell?

My home is over 194K; I refinanced, w/ the help of my best friend. The loan is now over 212k, the house has been apraised for 230k. As of 6/2008, their will be 40k of equity available. I would like for an investor/buyer to take possession of the home, continue to pay the mortgage and give me 30k, leaving them w/10k of equity. I will give them gift of deed & they can sell or rent out the home. We refinanced in 6/2006, so if the house is sold before 6/2008 than a 2% penalty will apply. I wil move out as soon as the investor agrees to my 30K and contracts are signed. I do not wish to have any further compensation. The 30k will help for relocation of myself & family & paying off debt. The real estate agent that originally sold me this home stolel 20K from me; Atty fees & closing cost was put into the new loan. The mortgage is 1500 monthly, this was fine, but my hrs @ work have decreased & I before it gets critical, I would like to be out of the situation. Is option possible? Thank you.

Well, when was the appraisal done, as appraisals do have a shelf life. If the appraisal is more than a year old, it is not worth the paper it is written on.

Your post is very complex, although you seem to have it all figured out in your mind. Investors are interested in CAP rate, how much it will make them. That a realtor stole 20k from you seems strange. Attorneys fees and closing costs are typical to be put into a loan. You can't "gift" a deed, you have issues to settle on who holds the note. And you are speculating on how much equity will be available.

You have so many things going on here, and you are running on speculation of what the market will do. You should offer the property for sale and take your chances. Do a FSBO, this sounds right up your alley.

You may consider doing a FSBO offering where you offer
"rent-to-own" terms structured initially with a reasonable down payment and monthly rental payments sufficient to cover your mortgage. Schedule a one year "balloon". Report It

It sounds like you want someone to assume your mortgage. I'm a mortgage broker from Edmonton, Alberta. here home owners can let a buyer assume there mortgage, which basically means they buy the equity in the home. Don't know if this is an option where you live, but it sounds like this is what you want

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