CitiMortgage program would let foreclosed homeowners pay rent to keep homes

A pilot program by CitiMortgage would give foreclosed homeowners pay rent to stay in their homes, according to the Sun Sentinel. The plan, which is reportedly being considered by several banks, would only apply to homeowners who have not been able to obtain a loan modification. “If it’s successful, we’ll try to do it on a larger scale,” said Rick Sharga, executive vice president of Carrington Mortgage Holdings, which is managing the program. [Sun Sentinel]