Renting, Homeowner | featured news

Bank of America is testing a mortgage-to-lease program in four states. The idea: Instead of evicting homeowners who face foreclosure, it lets them stay as tenants and sells the homes to investors.

While it's cheaper to buy than to rent in most of America's big cities, access to mortgages is tough in the wake of tighter credit standards from banks.

Fannie Mae plans to allow homeowners facing foreclosure to stay in their homes and rent them for up to one year in a new program to help troubled borrowers.

Homeowners who don't want to lose money are renting out their houses rather than selling them. It could be a creative new income stream.