Blog Archive: March 2012

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Bank of America Begins Small Rent-in-Lieu of Foreclosure Experiment

BofA is currently receiving a substantial amount of press for a very small pilot program that promises to rent homeowners’ homes back to them instead of foreclosing on the homes. However, the program requires homeowners to be at least two months behind in their mortgage payments to qualify for the program, and fewer than 1000 slots are available in a few select markets. Another ploy to encourage struggling homeowners to default? Maybe. More from the L.A. Times: The "Mortgage to Lease" prog...

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