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ortizsilva · Joined: 15 Jun 2010 Posts: 1 1.00 Dollars($)

We don't want to give up our home but we have a variable loan and the interest rate just went up from 6% to 8% and our payment went up from $1200 to 1450 a month, which includes the escrow. This is getting to hard to keep up with, and we h eard that there was a way that we could quit claim deed (deed in lieu), investor would buy and rent back, what is that called and what do we have to do?

jameshogg · Posted: Tue Jun 15, 2010 9:29 pm Post subject:

Hi ortizsilva,

I guess you are speaking about rent to own a property. In this case, you will be renting the property for a certain period of time and then take out a mortgage in order to buy the property. In order to rent to own a property, you will have to sign such an agreement with your investor. You can get in touch with an attorney who will help you in getting the agreement drafted.

Thanks

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What is it called when the investor buys your house and rents it back to you?