How would I go about donating a mortgage? Say I have a house in one state that I lived in previously to being transferred by the company I am employeed by. I then purchased a house in the state I was transferred to. I really want to get rid of the liability of the mortgage in the first state, but it's a difficult market and I know that I'm already $200k or more below the fair market value of the houses in my neighborhood. At this time I would love to just get out from this house. There's equity and I'd really even be willing to pay closing costs, etc. Is deeding my mortgage as charity or a donation possible? How would I go about doing such? A short sale isn't a good option because I'm not in default on my loan and I have great credit. I don't want to do a foreclosure or bankruptcy on the house. In fact, I'd love to just sign it over to someone and move on with my life in my new position and new house. I thought about selling as it to one of those quick sell companies, but that didn't turn out so hot and they are suggesting a short sale. This isn't feesible for me. I can pay my mortgage, I just don't want to give up that amount of money anymore. Please advise.