Families in mortgage arrears could be eligible to rent home under new scheme

Families who've fallen behind on their mortgages could soon be allowed to stay in their own homes, as renters.

AIB has agreed to sell hundreds of homes in arrears to a group fronted by the mortgage campaigner David Hall.

iCare Housing will then rent the properties out to the families that previously owned them.

The Irish Independent reports that the scheme, which has Government backing, has funding of up to €100 million.

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