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Sell Property and Rent Back
Selling and renting back is becoming more popular nowadays. More and more people are finding themselves in debt, financial difficulty or facing repossession. For many, selling their homes, moving on and starting over seems to be their only option. However, the sell and rent back scheme allows them to sell their properties and stop repossession or release equity to pay off debts AND stay in their homes. Rent backs are usually for the long-term though if only a short-term stay is needed, this is also possible.
The scheme is also popular if a couple is going through a divorce and one party wants to stay in the home, perhaps for the children's sake. Sell and rent back can make this possible while still making the equity in the property available to both parties. One additional thing worth mentioning is the buy back option available to any who take part in the scheme. This allows people to buy back their property in the future at a reduced rate, if they so wish.
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