Rent Back House - A Buyers Guide
The sub prime and credit crisis in the US has effected all of us. And when you are facing repossession, foreclosure or even bankruptcy there are often very few viable options open to you. The prospect of losing your home is frightening, especially if it's a family home, in which you have spent many happy years, invested a lot of your time and money in restoring or simply making it your own.
A rent back house has become a popular thing to do. The idea is that you sell your house to a bank or company and rent it back from them. Your contract states that you can live there as long as you want to and it gives you the option of buying it back anytime. A rent back house is a good way to gain access to the equity in your home.
You don't need to be facing a financial crisis to avail or make use of this service, and to sell and buy back your house. You could use it if you are having problems selling your home, you have a new job or you're relocating to a new area. This service is also usually available even if you've recently divorced or separated and you both want to break free of the mortgage and move on with your lives. In other words, whatever the reason for selling the house fast, you can use this service.
The rent back house process is fast and convenient if you're in a bind and need things to happen in a hurry. You decide the terms and the time frame. The paperwork and legal work is straight forward and the process is guaranteed so you can move toward completion with peace of mind.
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