It may soon be the beginning of another year, but for those who are worried about job losses, the New Year is set to bring more misery. The country is entering into 2010 in recession, which has seen some homeowners fall behind on their mortgage repayments. This of course is not the best of starts as some of those unable to reach an agreement with their mortgage lender may end up homeless.

If I feared I might lose my home, and I had exhausted all other avenues then I would look into the possibility of being able to sell and rent back my home. I would also have the chance of buying back the property in the future at a price that was fixed at the time of selling. Companies that offer sell and rent backs usually consider property of any type and in any condition, which is a bonus if yours is suffering and could do with a makeover in order to sell.

Another bonus to the sell house and rent back option is that you typically do not have to find money for fees as you do when selling with an estate agent. Solicitors fees are usually taken care of by the company when you agree to sell. You may be able to find out if this is a suitable option to take in as little as 24 hours after applying online. The whole deal may go through in a matter of weeks which when faced with repossession is a huge relief.