Quick House Sale, Rent Back and Stop Repossession

If you are facing repossession, a 'quick house sale, rent back' option may help you.

The 'quick house sale, rent back' option is suitable for people who don't have the time to go though the usual route of an estate agent to sell their home. It's also advantageous if you do not want to move from your home, but can't afford to keep up your mortgage. There are many circumstances that could lead to a quick house sale, rent back option, including:

• If you have been made redundant or unemployed and your monthly income is reduced significantly
• If you are struggling with general debts and have reached the point where you simply can't pay your mortgage and are even facing repossession because of mortgage arrears
• If you have an unsecured loan you have defaulted on and your home was up as equity
• If you want instant cash for your home in order to clear debts, or even to pay for a big event such as a wedding, but you don't want to move - the quick house sale, rent back option could be right for you

Quick house sale, rent back

If your debt is spiralling out of control, the quick house sale, rent back option could help you regain control of your life and finances. It's a misnomer that home owners are inherently comfortable and secure. The fact is many homeowners are living poor lifestyles and even in poverty. Unlike renters, they are not eligible for state benefit such as housing benefits, and so if they hit a spot of misfortune, they have no financial safety net. Many homeowners are turning to the quick house sale, rent back option to save them from the increasing financial pressure.

Asset rich, cash poor

Many pensioners with their own homes are thought to be asset rich but living in poverty as they live off a measly state pension. Opting for the quick house sale, rent back option is a way of releasing that equity without having to move from their homes. As well as those on a low income, those on a good income are suffering too. High property prices mean even those on a good wage have to borrow up to five times their salary. Mortgaging themselves to the hilt is a dangerous option - a hike in interest rates or change in personal circumstances could quickly lead to mortgage arrears. The quick house sale, rent back option could be the best way of coping.

Rise in repossessions

In the States, repossessions have reached a record number as rise in inflation and increasing debt hits homeowners, and the UK might not be far behind. Mortgage arrear cases have doubled in two years. If you are worried you could be or are facing repossession, you can talk to a property specialist who can offer you the quick house sale, rent back option as a rescue package.

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