You can choose to sell and rent back your house as a way of avoiding losing your home to the mortgage lender if you cannot keep up with your mortgage repayments.
The way you do it is to sell your home to a specialist company online who will pay cash for your home which allows you to pay off the mortgage and then you pay rent each month to remain in the property. The company should be able to tailor the scheme to suit your personal circumstances and talk over the whole process with you.
Selling this way is one way of avoiding property reposession and of course you would not have to move out of the property. You would also be given the option of being able to buy back the property once your financial situation has settled down.
You can get peace of mind as to whether this option would be suitable for your needs usually with 24 hours of applying. This would come by way of a verbal offer as to how much you might be able to sell your home for to the company.
If all goes well you could sell your house to avoid repossession in a very short time.
May 20th, 2009 at 1:20 pm
I saw a programme the other night where a house with an asking price of £157,000 on the open market sold for £90,000 at auction.