August 30, 2010
How I sold my house and then kept living their under a rent back scheme
In the UK we have sale and rent agreements that allow homeowners to sell and then rent back their house or home.
An FSA rent back approved property company will buy your house and then pay off your outstanding mortgages and any secured loans you have. You then rent your old home back from them at a reduced rental amount for up to a period of 5 years.
This is an ideal solution if like me you needed to sell to pay of debts, but didnt want to move from the family home.
The rent is much cheaper than what the mortgage was and I dont have to pay for any of the bills for the house as this is all included within the price.
I now get to enjoy living here without the problems of the debts and mortgage to pay for.
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