Real Estate Journal

A report released last year said new HUD data show that the program was able to help 33,000 homeowners in preventing foreclosure in three months. They also foresaw the possibility to help more than 50,000 more by end of year.

Tis will help families to avoid foreclosure. A huge number of homeowners are refinancing their exotic subprime loans with HUD. According to HUD more than 33,000 borrowers have already refinanced their subprime home loans with FHASecure, a government-insured foreclosure avoidance initiative created in September. 20,000 are in the pipeline for approval which brings the total to more than 53,000.