The start of a New Year is typically a time when many hope for a change for the better in their lives, particular if the past year has not been so kind to them. This year when 2010 rings in, many more may be wishing for a change and in particular, when it comes to their money worries. Some of these may be faced with losing their homes in the New Year unless a change comes about, as the result of mortgage arrears.

However if you are one of the many who are faced with the possibility of losing your home you may wish to consider being able to sell your house and rent it back with a sale and rent back agreement as a way of avoiding repossession.

If you should decide to take this option, you may be able to begin the New Year mortgage free and without worry of the possibility of losing your home hanging over your head. A specialist company may offer to buy rent back your home to you through a sale and rent back agreement, however they typically do not pay the full value of your property and the rental period may be fixed.

While this way of avoiding mortgage arrears may not be suitable for all circumstances, always check out all options that are available.