This section assumes that you are already in financial trouble. Recognizing how hard it is to spend your money wisely under these circumstances, this section lists bad choices you should avoid at all costs. Sale and lease back One way that some companies and individuals make money is to buy your property from you at a low price, and then to lease that property back to you at a high rental rate. These deals often are targeted at people facing foreclosure or repossession.
Some companies get their leads by reading published foreclosure notices.
These businesses are rip-offs. Once you have sold your property to them, you no longer have the rights of an owner. You are likely to be overpaying in rent for something you formerly owned. You will have no certain way of getting your property back. Additionally, there are many reported cases of fraud involving promises made in connection with these contracts.