>Strapped Homeowners Discover
Safety Hatch in Sale-Leasebacks
Parents Bail Out
Beware of Tax Man
By JILIAN MINCER
July 16, 2008
Homeowners buckling under heavy mortgage debt are resorting to a different kind of relief measure: selling their home and then renting it back from the new owner.
Such sale-leasebacks have been around for decades, but real-estate agents are seeing a small but rising number of people making this move. Often, homeowners cut a deal with family members or bargain-hunting investors to let them stay put after selling their property.