Assuming my home loan...

[Mark E]

I have a potential homebuyer a trust worthy friend that has great credit and income/assets etc. And with one of my properties im upside down in terms of value etc. Im on a interest only loan with no pre-payment penalty. Is it possible now with my current lender I have my loan with for someone to assume the loan and myself being taken off? Are they more strick in terms of assuming the loan if it can be transfered? Because in all honestly its going to be hard for me to keep up with these payments since the economy has taken a dump and prices like gas are on the rise. If I explain to the lender that I won't be able to survive making this payments however I have someone that wants to the assume the loan that can make these payments will that work? Any advice? Has anyone performed this type of transaction before? Thanks..