Citibank Says If Borrowers Return the Deed of Their Property, They May Stay on For 6 Months

Citi launched a new program termed Foreclosure Alternatives Program which allows homeowners to remain in their homes for an additional 6 months provided if they return the deed of their property at the end of the period. The pilot program initially expects 1,000 homeowners to participate and is available in Texas, Florida, Illinois, Michigan, New Jersey and Ohio. Citi may expand the program nationally.

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