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Preventing Foreclosure
After establishing an Agency Priority Goal focused on preventing Americans at-risk of foreclosure from losing their homes, the Department of Housing and Urban Development (HUD) initiated a number of measures to improve agency operations and help borrowers at the very early stages of delinquency when interventions can prevent serious delinquency. HUD increased the number of households assisted with early intervention by 31 percent between 2010 and 2013. HUD also reduced six month re-default rates from 17 percent in 2011 to 8 percent in 2013 among those who were helped by the agency’s mitigation programs.
