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could lose house

gbuba30
gbuba30 Posts: 13 Forumite
in House buying, renting & selling
Could anyone tell me if their is a way to sell have your house. Then buy it back again a few years done the line, £25,000 in debt and could lose my home that i have built for my family it's really getting me down, any advice welcome thank you gareth
«1

Comments

  • x_raphael_xx
    x_raphael_xx Posts: 4,411 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    There are companies that will buy your house at the current asking price, then rent it back to you. So you can still live there.
    I assume you can buy it back when you can.
    Debt Free as of 17/01/2009 Turtle Power!!

    EF Challenger #3 £1543.72 / £5000
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    MFiT #40 Jan 2025 Target - £99,999.00
    Mortgage at 30/09/22 £113,694.11 | Mortgage at 24/01/23 £110,707.87
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    Mortgage at 01/04/24 £104,424.73 | Mortgage at 01/10/24 £103,594.98
  • CYBERCIDERSAVER
    CYBERCIDERSAVER Posts: 279 Forumite
    Be warned. There are many unscrupulous "companies" who will buy your house with no intention of you staying there long term or letting you buy it back....

    do your research and make sure you get a good solicitor. And good luck.

    Pete
    "A goldfish left Lincoln logs in me sock drawer!"

    "That's the story of JESUS."
  • Snaggles
    Snaggles Posts: 19,503 Forumite
    I don't think you can sell half your house (is that what you mean? That's not a dig at your spelling by the way, just wanting to make sure I have understood correctly) - but if you post your soa (statement of affairs - basically a list of income and all your outgoings) on the debt free wannabe forum, we can have a good look at it to see if there are any suggestions we can make that might enable you to keep your house.

    I know you are unhappy with one particular thread on there, but even the briefest glance at some of the other threads will show you how supportive and helpful the dfws are.
    "I wasn't wrong, I just wasn't right enough."
    :smileyhea
    9780007258925
  • ashcarrot
    ashcarrot Posts: 650 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Couldn't you just remortgage to the same effect?
    Money, Money, Money ..... Banks/Casinos/Bookies give me all you money its a poor mans world....
  • Northwest_Guy
    Northwest_Guy Posts: 14 Forumite
    Hi there,

    there is a relevant post on this site which includes the ups and downs of sell to rent back. you can find it here:
    http://forums.moneysavingexpert.com/showthread.html?t=224446&goto=newpost

    If you have no other option this thread may help make the final decision but BE WARNED there are some dodgy firms out there as the industry is not regulated

    Hope this helps
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    No, you can't sell half your house unless you have a buyer in mind (e.g. a parent) who is doing it to help you out.

    But I think you need to look at your whole situation. Income/expenditure, what's changed/gone wrong to try to fix the root cause.

    You haven't provided enough detail for the helpful/informed people on this site to really have a good go at solving your problem for you.
  • dolce_vita
    dolce_vita Posts: 1,031 Forumite
    Another loser who has p1ssed their money away in a debt addicted frenzy and now looking for an easy way out.

    Plenty more of these to come in the next few months.
    dolce vita's stock reply templates

    #1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided

    #2. This time next year house prices in general will be lower than they are now

    #3. Cheap houses are a good thing not a bad thing
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You should at least find out the full details of their demise before lumping everybody in with the others.

    People can go through a series of change of circumstances from which they expect to extracate themselves in the short-term, only to find out it wasn't light at the end of the tunnel, but a train.

    Let's leave the mud-slinging for those that really asked for it. As you said, plenty more ....
  • MORPH3US
    MORPH3US Posts: 4,906 Forumite
    1,000 Posts Combo Breaker
    dolce_vita wrote: »
    Another loser who has p1ssed their money away in a debt addicted frenzy and now looking for an easy way out.

    Plenty more of these to come in the next few months.

    No need? :confused::confused::confused:
  • before_hollywood
    before_hollywood Posts: 20,686 Forumite
    dolce_vita wrote: »
    Another loser who has p1ssed their money away in a debt addicted frenzy and now looking for an easy way out.

    Plenty more of these to come in the next few months.
    what a nice helpful post rolleyes.gif

    op- i would post on dfw if you haven't already mate
    things arent the way they were before, you wouldnt even recognise me anymore- not that you knew me back then ;)
    MercilessKiller wrote: »
    BH is my best mate too, its ok :)

    I trust BH even if he's from Manchester.. ;)

    all your base are belong to us :eek:
This discussion has been closed.
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