The Real Deal Miami

Homeowners try leasebacks

July 17, 2008 05:19PM

Some homeowners, buckling under mortgage debt, have found a new way to avoid foreclosure and stay in their homes: by selling them and renting them back from new owners. Many buyers and sellers are trying sale-leasebacks, more common in commercial real estate. Some experts say that renters won’t always come out on top. “If you can’t afford the mortgage, how can you afford the rent?” one expert asked.