Hello my home is worth approx 100,000 and the outstanding mortgage is 47,000. It is jointly owned by myself and my ex-husband. We have a secured loan of 46,000. My ex husband is now refusing to help me make payments on the secured loan and I cannot afford them myself. I have lived in my current home nearly all of my life and I have two small children and I really do not want to sell my home ifI can help it, but I am worried about it being repossessed. Is it legal for me to sell my home at less than market value to one of these companies that let you "sell and rent back", even though I will not make enough profit to pay off the secured loan? Do I have to inform the loan company of my intention? I would really appreciate some advice.
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