If you find yourself unable to carry on meeting the repayments of your monthly mortgage then you need to consider what options are available to you before the lender seeks repossession of the property. The earlier you look into your options the better, although even when at the stage of having a court date hearing set, it is usually not too late.

One of the options that are available to you and one which allows you to remain in your home is by selling and renting back your property. By doing so you will be turning your home over to the company, and in return you will not have to pay your mortgage or worry about being evicted and you are able to rent it back and not have to move out. You will also not have the stigma of being evicted attached to you or your credit file so it will not have repercussions in the future.

The first initial contact with a buy and rent back company will be to give you a verbal quote. This will give you a rough idea of what your property is worth and from here you can decide if this may be an avenue you want to go down. Your property will be looked over and then a written quote will be given along with the rental fee and how much you could buy back the property for.