Renting back our home made sense to us when things got difficult
August 28, 2010 3:00 am Real EstateMyself and the family went through a really bad time a few months back. We were just starting out and took on too big of a mortgage than what we could comfortably handle. With one child already and one coming on the way, we didn’t know where else to go when the legal courts were talking about house repossession. We ended up going to repossession-stoppers.com, and they were able to help us find a serious cash buyer for our house really quickly. We were able to Sell and rent back so we could stay there with our new family. It meant we could release some equity to pay of debts and then we could keep the house and stay there longer under the rent back scheme.
Our new tenancy is secured by the FSA and we have it for 5 years or perhaps longer. It was an ideal solution to keeping our house and familiy home.
