A sale-leaseback, also known as a leaseback agreement, is a financial agreement that allows a homeowner to sell their property to someone else and then lease it back from the new owner. A leaseback agreement is a smart idea when you need to free up some cash while still getting to use and live in your house. For example, if you need money quickly to pay for some unforeseen debt, like medical expenses, but still want to live in your home, a sale-leaseback could be the perfect solution for you. Leasebacks can also make great options for retired seniors that are strapped for cash and do not qualify for a reverse mortgage. In general, anyone struggling for money, whether it’s from medical bills, credit card debt or recent unemployment, can leverage a leaseback agreement to free up cash and keep their home. But they aren't always the best option as you are no longer the owner and still risk losing everything.