Mortgage Payers - Beware Of Sale And Leaseback Schemes
Struggling homeowners facing mortgage arrears and repossession are being tempted to consider a 'mortgage rescue' scheme from independent companies. This typically involves a sale-and-leaseback deal which offers mortgage payers a financial lifeline, by buying their property off them and allowing them to lease it back as tenants. It enables former owners can stay in their home and have a chance of buying it back, when they are in better financial shape to do so. Scores of organisations have sprung up in the last year, preying on the vulnerable. With no regulation of the sector, the risk to consumers is very HIGH. ...
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