By Miriam Raftery

Photo: CC-NC-SA via Bing

February 16, 2023 (Washington D.C.) - To help homeowners during this time of rising interest rates, the FHA has announced that its programs to help homeowners impacted by COVID-19 has been extended to help ALL eligible borrowers who are struggling to avoid foreclosure, regardless of the reason for their hardship. These tools will be available for at least the next 18 months.

During the COVID-19 pandemic, over 2 million homeowners were able to stay in their homes thanks to programs that allowed them to obtain loan modications or forbearances.

“Although the pandemic has ended, the economic effects will remain a challenge for the foreseeable future,” said HUD Secretary Marcia L. Fudge. “These impactful and effective foreclosure prevention tools will help struggling borrowers find the right option to help them get back on their feet and keep them in their homes. These tools have been so successful already, which is why FHA worked to enhance them further and include more borrowers.”

By E.V. Small

February 5, 2013 (San Diego County)--For the past two years this question was extremely easy to answer. The combination of historically low interest rates and abundant inventory due to the record number of foreclosures has resulted in the lowest housing cost in decades.