When you decide to go ahead with the plan to sell then rent back a property, discuss the terms of the sale in detail; understand the terms of the lease, and seek to negotiate with your mortgage lender to ascertain if it is possible to waive some of the accumulated fees and charges in lieu of a fast pay off. If your home is getting close to foreclosure, your mortgage lender might be more willing to go ahead and drop some fees and reduce the overall payoff amount since even this will most likely be more money than the lender could hope to recoup during a foreclosure sale.
At times like this, the investor may have an in with the mortgage company you are using and perhaps there will be ways you can - use this relationship to your advantage - to reduce the payoff amount of the home, thus freeing up more funds with which to pay other bills.