According to AZCentral, federal housing aid has helped more than 350,000 Arizona families get more affordable monthly payments and other modifications, assisting almost 15% of Metro Phoenix homeowners avoid foreclosures.

“The federal programs not only provided direct relief to distressed borrowers in Arizona,” said Val Iverson, executive director of the Arizona Housing Alliance. “They also indirectly strengthened the industry to better respond to distressed-borrower issues.”