Short sale to lease back option: -

Overview

To broadly understand this concept we need to understand the impact of short sale, the impact of a short sale on your credit depends on several factors, including the way your lender reports the short sale to the credit bureaus. Most lenders will use the term "settled" for a short sale, which indicates that less than the full debt was repaid. If you can negotiate with your lender to use the word "paid" your credit won't be as badly damaged, but lenders rarely agree to that.

Your credit score could drop by anywhere from 85 to 200 points depending on whether you have been paying your mortgage on time and your previous credit score. If, for example, you had good credit of 700 or above, your score might drop even more than someone who already had a low credit score of 620 or so because of a short sale is an indication of potential future defaults on other credit, especially if the borrower with low score had been making on-time mortgage payments. If you had months of non-payment, partial payments or late payments on your mortgage, your credit score will also be lower because of the combination of the short sale and a bad mortgage history.

In spite of the impact on your credit, a short sale may be the best option if you can't stay in your home because you can move on from your current situation and begin to rebuild your credit for the future.

Short sale certainly becomes an option when you are far behind on payments or your property is upside down at this point you can choose a private investor who is willing to buy your property at the current market value and giving you the option to lease back your property for at least a couple of years in this event you don't have to move out of the house and you can simply pay rent as per the current market trend and you can also have the option of rent to own. This option of rent to own can most certainly save a lot of money in the current market situation as to you can simply buy back your own house at the current market price which is capped with the agreement. To understand the concept of lease to buy please refer to the link below;

Rent to Own

Advantages of Shortsale to lease back

Disadvantages of Shortsale to lease back

Currenty we can help you qualify for the program in the below mentioned States