Real Property: Sale-leaseback Arrangements
In a sale-leaseback arrangement, you sell your home to a buyer who then leases it back to you. You basically change your relationship to your home from owner to renter - and get cash equal to your equity. You may also reduce your ongoing expenses if your rent is less than expenses related to the home.
To get the most from your home, look for a family member or friend to enter into this transaction.
Keep in mind that once you sell your house, it is no longer yours and you will only have the rights of a tenant.