Mortgage requirements that were set up several years ago have now made it difficult for several to keep up with payments, specifically because of fluctuations in the economy and real estate market.  If you are having financial difficulties with your home and don’t want to go through the foreclosure process, then you can find a way to sell to stay.  There are several schemas that you can use, all which provide you with a new beginning while allowing you to stay in your home. 

If you are facing foreclosure or are behind in payments, banks and lenders expect one thing, which is for you to catch up on the missed payments.  If you can’t do this through extra monetary resources, then you can consider the sell to stay option.  This allows you to sell your home to a third party vendor.  In return, you will be able to take the money that you have received from the sale and can use it to pay back the mortgage company.  This catches you up with payments owed and stops you from facing foreclosure. 

The short sale that you make on your home doesn’t mean that you have to move out.  There are several that have used this option simply to make up for the payments that they have missed.  You can then contact the vendor that you have sold the home to for the sell to stay option.  You will be able to go through a contractual agreement that allows you to rent your home back while staying in the same place.  You then have the option of starting over while changing your financial situation so it fits with specific needs. 

If you decide to sell to stay, then you can expect specific requirements to be met.  Typically, the procedure can be completed between 30 – 90 days of the first agreement.  You can also expect the transactions to take place with confidentiality so no one knows about the potential foreclosure or the decision to rent the home back until you can build financial standing.  The option to sell to stay is then met with contractual agreements that allow you to buy the home back after paying rental fees for a certain period of time while allowing you to have flexibility in the monthly payment amounts that have been initiated.