If you are hard up and really struggling be very careful what you pursue in terms of a quick money fix. Money lenders such us companies offering to buy your house off you and let you rent it back off them to ease the money squeeze can sound like the answer but it is a dangerous business to get into when you consider the consequences – the company itself might go bust and hence you are in serious trouble and could be without a place to live. Also other money lending companies could be lending you “dirty” money. Some good advice I heard on the radio stated that if you are really hard up, consider taking in a lodger to help pay the mortgage, ok, not ideal if you have a family but a nice student could do the trick and help with baby sitting – you never know. Or at a last resort consider renting your place out fully and rent somewhere else yourself that is cheaper or move in with parents while we ride out the storm.
The point is there are other solutions that can be sought before you get yourself into difficulty.
Further info on loansharks can be found here
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Richard
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