April 24, 2008
Being able to get a favourable mortgage to come your way is half the job done. Now itâ€™s a few years of hard work and repayments till you clear your mortgage and get the papers from your bank. Everyone works really hard towards this and you surely strive towards similar goals. However life is uncertain and thereâ€™s times when difficult times fall upon you. During such as period it may not be possible to continue with regular repayment of your mortgage and the banks likely to reveal scant patience. The next possibility is a foreclosure.
Will this can ruin you in more ways than one. Your wiser alternative is the sell house to rent back approach. This ensures that the realtor you choose to work with buys your home at such dire times and rents it to you right away. This way you donâ€™t have to shift out. You also avoid foreclosure and get additional time to re-plan finances and buy the home yet again.