To loose the house you have been dreaming about through mortgage payments that you cannot afford surely is something, which is very sad. You might feel that the sale of your precious house is the one and only option you now have. To sell and rent back your house is an option not many people know about today. This basically mean that you can sell your house to this company but still stay in it until you have enough money together to buy it back from them again while staying in it all the time. More than one such company will be eager to assist you with this problem.
You might wonder in what way you can benefit by selling your house to a sell and rent your house back company. This is something which leaves you with the option to buy it back from the company at a later stage if you wish to do so in a legal way, which again leave you with the option to regain full ownership of the property if your financial status improve in the future.
A representative of the company will come to your home to assist you with the details and other questions on the house such as how much it will cost you when you want to regain ownership again. Such a process starts the day when you complete the sell and then allow you to rent with them forms whether it is online or through the representative.
One important thing you must know is that there is a big difference between sell to rent back your home and to sell it through real estate brokers.
As in all such deals, you get pros and cons when you sell and get to rent your home back, but you get the same with selling it thought real estate brokers. The truth is that it leaves you with only one option namely selling and renting back if it is a case of quick selling and you do not want to move.
The whole sale can be finalized in a few weeks time if the sell to rent back scenario suits you. Most of the times sell and rent back companies can save your home although you get a notice of foreclosure before the deadline.
If it does happen that you move to another house, or perhaps not pay your monthly installments, these companies have the right to kick you out and you loose all rights on the house.
The sell and rent back your house companies know how long it takes to get your financial situation sorted out and therefore they give you five years in which you can pay them back and if you cannot to that, they might extend it with a few more years depending on your payment history. This will give you the security that they will not kick you out for nothing and it gives you time to look for something you like. They will assist with different options you might need. Think wisely before getting rid of your house.
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