House Repossession Assistance

Question by shouser43567: Where are property investors that rent back to the home owner?
I am a desperate mother of three children looking to save own only home. Bank says the home is worth way more than it actually is and now I actually owe more than what is owed on the house. We have no where else to go but could still live here if we find an investor to buy the home and rent it back to us. Terribly terribly despirate to find investor.

Best answer:

Answer by gailforce_wind
A sale leaseback is designed to benefit the investor, not the seller. They buy homes or commercial properties with equity in them and lease it back to the old owner to cash flow the payments they will now be making on the property. That is rarely in the favor of the seller either.

If you can’t make your mortgage payment now, the lease terms would be worse and you would have no hope of making those.

You have some choices. If the house is overvalued and you can prove it if you file Chapter 13 bankruptcy the value will be decided by the court, you might skate on their late fees and maybe even their attorneys fees for the action they have taken already and save your home.

Know better? Leave your own answer in the comments!