Sell and Rent Back Your Home?
It can be a good option, as long as you are selling to landlords who are not going to just turf you out again after six months. The key to this idea is to make sure the rent is not only at an affordable level for you, but also something you will religiously pay on time.
It’s a great way to:
1. Get rid of your mortgage arrears
2. Get your hands on some cash
3. Not have to move out of your home.
At the end of the day, a mortgage is not that different to rent – it’s an amount you have to pay out to live somewhere.
How can you stop home repossesions?
Let’s face it: the economy is in a mess. Businesses are going bust at an alarming rate which makes the number of jobless people rise in the UK at an alarming rate.
So what can you do to avoid your home being repossessed?
First of all speak to your lender and don’t bury your head in the sand until it’s too late. If you are in danger of losing your job/income then speak to them at the start and not after you have missed several payments! They don’t want your property to be added to the list of homes that they have to sell on at auction as they may loose money. But if you ignore them then they will have no option to follow procedures.
We will be covering more ways to save your home and the stress on your family shortly.