July Housing Scorecard released

The U.S. Department of Housing and Urban Development released the July Housing Scorecard, which reported a slight increase in home prices despite foreclosed and distressed properties' continued clogging of the market. The report also found a decrease in new foreclosures as lower mortgage rates and refinancing options prevented struggling borrowers from defaulting.

According to the data, the percent of prime mortgages at least 30 days late dropped from 5.9 percent in 2010 to 4.4 percent in June 2011, while sub-prime mortgages delinquent for 30 days or more decreased to 32.5 percent from 36.4 percent a year ago.

The Home Affordable Modification Program that started in April 2009 has helped nearly 5 million homeowners make permanent loan modifications on their homes, with 31,600 additional homeowners receiving assistance through the program in June.

Treasury assistant secretary for financial stability Tim Massad said thousands of homeowners continue to find aid in the Administration's programs.

"These programs are setting standards across the industry that are yielding more sustainable assistance for homeowners in the face of the worst housing crisis in a generation," Massad said.  

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