My friend Jill bought a house about two years ago.  It was a large home, magnificent, but the maximum that they could afford.  Things were running smoothly until her husband Brad was in a car accident.

The accident resulted in Brad becoming paralyzed.  Now, this meant that he could no longer continue his practice as a podiatrist, and unfortunately they did not have any disability insurance.  With the settlement from the accident months away, they were getting farther and farther behind on their mortgage payments.  Their bank even called a couple of times to threaten that their home would become one of their repossessed properties.  They didn’t know what to do, and they were looking at the loss of their home.

It just happened that on the night they had exhausted all their option, a telemarketer from a local real estate investing company called.  They were looking for home owners that were in distress and needed cash for their property.  Now this is exactly what they needed - so they let the telemarketer tell them about their service.  He said it was a sell and rent back program - basically they would buy their house from them so they could solve their money problem, and rent it to them so they wouldn’t have to move.

They signed up over the phone and the transaction was done in less than a week.  Their home was not repossessed and now things are going better for them now.  If not for that call, I don’t know what they would have done.