If you have fallen into arrears with a sub-prime mortgage then you may be one of the many who are being threatened with repossession of your home unless you pay off the mortgage arrears in one lump sum. It has been revealed that those with sub-prime mortgage are not being given the opportunity to repay mortgage arrears over time. Instead some of being asked to cough up substantial arrears in the form of lump cash sums, which of course they may not have.

Some lenders of course follow the rules and allow those who have fallen on hard times the opportunity to catch up on their mortgage arrears. However, it seems some are a little too over jealous and are demanding lump sum payments from the homeowners.
If you are one of these individuals and fear you may lose your home you may wish to look into a sale and rent back agreement allowing you to sell house to rent back with a company offering you cash for your home.

You pay off your mortgage arrears and the mortgage and when you sell property and rent back you remain in the property as tenant for the amount of time specified by the company when selling. This may be fixed at 5 years with no guarantee of being able to stay in the property for ever.