Be aware of the people that may try to scam you to sell your home and rent it back. What they are really do is getting your house to sell on false pretenses. They tell you that they can get you 100 percent market value for your property. They send you just enough cash to pay off your mortgage so that you are out of your loan and say you will get the rest if you rent for many years, around 5 to 10 years. So beware of these sell house to rent back schemes and do not fall for them or you will only be losing and not gaining.
Be sure you know enough information on the company you are choosing to use for the sell house and rent back process. Do as much research as you can about the company you choose. The best bet would be to use a home buying company, rather than a company you heard about on TV, or newspaper. It could be highly likely that the sell house and rent back house would be a scheme. Make sure you can get enough money to cover your mortgage, possibly have a little bit left over, and definitely make sure your rent is affordable. If you cannot afford your rent, then you are not going to be in any better situation than you are now. Most likely you will still lose your property.
