Rent Back Scheme Gets you Cash, Without Snatching your House

By: Derrick Adolfo

Financial crunch is a bane in life. It can eat away your peace of mind. It is not easy with lenders knocking at your door. Increasing debts can be stressful. Quick sale of your house is one solution to get out of the hard situation. But this again is not all that easy, when one follows the usual methods. Selling your house involves a chain process where you may have a hired real estate agent negotiating for you the right deal with the potential buyers. The entire process is time-consuming as well as full of hassles.

You may also have to put up with a 'For Sale' signboard in front of your house, so that even your neighbours get a sniff of your financial situation. Not a very savvy situation. With Sell and rent back scheme, you have the option to sell your property quickly and rent it back at the going market rate or less.

This is a great financial product to consider if you have run into financial difficulties. In any case when you are in urgent need of cash and want to avoid the burden of shifting after a quick house sale, you can rent it back for as long as you like. This way you get the instant cash that can save your day and also not remove your very own house-roof from over your head.

If your financial prospects are as grim as a house repossession, you can avail to the scheme as a good fall-back option. It will help you to pay off your mortgage and what better, you would still be residing in the house. Selling your house and renting it back is great way to release the equity tied up in your property. You can do the same when you have to relocate or migrate. You can sell off your present property, to get the cash you need desperately and then rent back this house so that that you stay in the house until you are ready to move out.

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