South Florida Business Journal
Date: Thursday, August 9, 2012, 7:51am EDT
A CitiMortgage pilot program in Florida and five other states will aim to keep struggling homeowners in their houses.
The Sun Sentinel reports that the program will transfer mortgages to the bank in deed-for-lease arrangements, turning the homeowner into a renter. It will begin with about 500 candidates selected by Carrington Capital Management, which will also manage the pilot program.