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If you are an unfortunate victim of the recent credit crunch and want to stop repossession of your home then a good idea is to look at sell and rent back deals on your property. The property purchased by most of us is the biggest investment that we will indulge in our lifetime.

A house can be a very expensive commodity and with the fluctuation of the real estate market you want to make sure that you get the right price for your dream home. However, worse than that is finding your dream home and actually living in it but not for long. If the credit crunch, financial instability or legal disputes have led you to decide to sell your house then it is essential to get a trusted and experienced real estate broker.

The main reason for this suggestion is twofold. Primarily the real estate broker functions to get you the best price for your home without making the process of sale cumbersome. Secondly a real estate broker might be able to advise you on good options to stop repossession of your home.

How to Stop Repossession of Your Family Home

One such option utilized in today's market is the sell and rent back scheme. This primarily entails that you release equity on your house and do not incur a second mortgage on the property. This is done by disposing the property at fair market value thereby transferring ownership to the new buyer. However, instead of leaving the house you end up renting it back from the new owner.

This basically means that you have transferred ownership of the property and continue to live there by paying rent. This is a great strategy if you want to avoid increasing monthly installments on your mortgage payment or stop repossession of your home.

However, it is advised to utilize the service of a good company that has experience in creating sell and rent back deals. For someone who has spent their lifetime savings on purchasing a family home, more than selling it off, moving out of the house can be emotionally disastrous. And if you have a family along with you it can be quite stressful and unsettling.

Therefore you sell your house and rent it back from the new owner you will at least get your money back and minimize the emotional impact of losing your home since you are still technically living in it.

It is good to go with referrals from friends and family members who have utilized the services of professional real estate agents. They will be able to advise you on customized solutions to meet your financial requirements.

Make sure that the broker does not charge you any commissions for the sale of your home. With the financial upheaval in your life you need some time to stabilize yourself monetarily and by selling your house and renting it back it is easy to do so from the comfort of your family home.