Omid... can you show some links of legal cases where they talk about lease backs?

This type of programs also come in legal cases and this is good news that by leasing your home to other person you can improve your credit and it will ensure your down payment for future mortgage.

Leaseback is a financial transaction, where one sells an asset and leases it back for the long-term; therefore, one continues to be able to use the asset but no longer owns it.

I recently posted about problems I'm having with renewal of my mortgage. I just had a mortgage broker discuss with me the option of a leaseback program where someone will buy my home and I will lease it from them for 3 years. Has anyone heard of this kind of program and it is a scam?

It does sound like a reasonable option for someone in the credit poorhouse to me in that the mortgage broker has offered to work with me to A) improve my credit and B) Secure a downpayment for a future private mortgage in 3 years that would have better terms

Comments anyone on this. I set up an appointment to discuss details on this option on Friday.

The good news for me is it is an option.

QC