Sell and rent with the option to buy back
If you are struggling with the repayments of your mortgage, or have already fallen behind on your mortgage repayments and cannot catch up and fear that you will end up being repossessed, then you could consider an option that would allow you to sell property rent back. This option called a sale and rent back agreement may provide you with the money to be able to pay off your mortgage with the lender.
However the money from the sale is usually less than the full value of your home so this has to be weighed up. However you would not have to move out of the home after being evicted and of course you would be able to avoid the stigma associated with having your home repossessed.
When you are thinking of selling this way with a specialist company who will buy house rent back there are many things to consider and weigh up. Do not be tempted into rushing into taking a sale and rent back agreement thinking it is your only option. There many be numerous options open to you so if you are not sure take advice to find out the most suitable solution for your needs.
