Can Your Rent Your House Back After a Short Sale?

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June 21, 2008

I am constantly coming in contact with troubled homeowners that are looking for the solution to their unaffordable, over leveraged home. While a short sale is often the best solution (sometimes the only solution)I find that most have a strong burning desire to “save the home” and will often hunt frantically for any and every possible option to do so.

You may be a person that feels that way and once you discover that by arranging for a short sale it is possible to sell the home for less than the amount you owe without having to bring $50k - $100k in cash to closing you might ask a questions like, “HEY! Is it possible for an investor to buy my home and then rent it back to me, allowing me to buy it back again in a year or two?”

While the answer to this is technically “Yes” there are a lot of factors that make this very difficult to actually achieve in real life. In this episode of The Short Sale Show we go over this whole concept of “Renting Back” the home and why you probably shouldn’t put all of your eggs in that basket.

On a side note, if you know of a FAMILY member that is willing to work with you on a setup like this, it is more likely to be a viable option.

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