I Fuc*ed up! need help

[Chris Mcmahan]

Hey guys, i really messed up.  Out of desperation i bought a house for my family, we were pushed out of the west due to housing prices.  Its a freddie mac home that requires us to keep it as our primary residence for 1 year.  That was our intention but one month in we hate it here.  We have been struggling with what to do in life and where to go for the past 2 years and buying this house made me realize IT IS NOT HERE.  We have decided to follow our dreams and move to Hawaii where we will both be starting new lives and careers but dont know how to handle the house situation.  Here is how the contract reads.

I actually just met someone that wants to buy it as is for what I have into it, so i wouldnt be making a profit but if FM finds out they will stick me with 10k fine.  Is there a way we can structure a deal to sidestep this penalty?  I paid cash for the house and have considered offering him seller financing.  Technically I cant even rent to him.  My idea would be to keep the bills and everything in my name, he would move in and I could pay him like 1$ to be my live in caretaker while we take off for hawaii.  When the year is up we would make the transaction.  I dont want to pay the 10k but I also dont want to be illegal.  Can anyone advise?   I just want out.

[Caroline Gerardo]

You need to increase the sale price by $15000 and expect to see that in the payoff. Soon as you order payoff the $10000 plus their costs will be due, not later, not negotiable. 

You could try and send a crying letter of explanation begging BEFORE you list and see what Fannie says, but you need to have a real reason other than we don't like it here...

Do not sneak or lie and try and do a wrap around or some lease option, you might end up wearing an orange suit plus the fine.