First it was new housing starts and now it’s existing home sales.

National Association of Realtors(R) today issued a report that should be considered more good news for the struggling national housing market, revealing that the sale of existing homes increased 5.1 percent between Jan. and Feb. 2009.

The annual rate grew from 4.49 to 4.72 million units during that span, which marks the largest jump from month-to-month since July 2003. The reason?

Foreclosures!

Yep, the report indicates that smart buyers gobbling up discounted foreclosure homes is likely the reason behind the spike. We keep telling you … strike while the iron is hot! These amazing real estate deals clearly don’t last very long.

To search Foreclosure.com for the best deals in your area click here. It’s FREE for seven days.

Mortgage industry titans Fannie Mae and Freddie Mac, which have been under government control as of September 2008, will allow select borrowers who are in financial distress to remain in their homes as renters rather than lose them to foreclosure.

Fannie Mae was the first to make the move early last month. And according to a recent article in Business Week, the finance company has already “stopped about 20,000 foreclosure sales and halted 6,300 evictions of owners or renters this winter.”

Those are some staggering statistics for such a short time frame. But welcome news nonetheless for those who were able to take advantage of the assistance.

In addition to keeping people in there homes, the goal of the plan is to ensure that properties don’t fall into “disrepair.” The surge of defaults has had an unsightly impact on neighborhoods throughout the nation, knocking down home values and, in some cases, inviting trouble.

Here is a snip from Freddie Mac Chief Executive David Moffett:

“Keeping foreclosed properties occupied and in better repair will support local property values and promote a faster recovery in the housing market.”

Fannie Mae and Freddie Mac “own or guarantee about half of the $10.6 trillion in outstanding U.S. home loan debt,” which certainly makes this latest news a step in the right direction. Finding and creating ways to keep people in their homes is a good thing on so many different levels.

Yahoo!News is today passing along information contained in a recent report from the Mortgage Bankers Association that indicates foreclosure rates collectively throughout the nation are higher than ever before in recent memory.

In fact, the study claims that an alarming one in 10 homeowners in the United States was “either at least a month behind on their payments or in foreclosure at the end of September.”

Perhaps more troubling is the group of people who are now having housing headaches — it’s those with 30-year fixed mortgages … not the adjustable rate “balloon” variety (even though those folks are clearly not out of the woods yet, either.)

And the contributing factor to the “latest wave” of hardship? Unemployment.

Here’s more on that situation:

“Employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent…. The U.S. tipped into recession last December, a panel of experts declared earlier this week. Since the start of the recession, the economy has lost 1.9 million jobs.”

Of course, if homeowners don’t have jobs or can’t find them then it is difficult to meet their monthly mortgage responsibilities. If you are a homeowner and feel that you will be unable to pay your mortgage remember to contact your lender early and often — there are options available.

For assistance right now or to speak with a knowledgeable expert on the situation click here.

The revised $700 billion bailout plan, which was rejected just last week in its initial form, was today approved by the United States House of Representatives (263-171), sending an important message to the American people that their government is prepared to “rescue” that national economy from further collapse.

President George W. Bush — who has championed the bill throughout the entire process — now just has to provide his signature for the unprecedented initiative to move forward.

The bill will soon provide the government the authority to purchase bad mortgage loans and other poor performing assets from major lenders nationwide, unclogging the financial system and allowing credit to flow freely once again.

In addition to the $700 billion bailout for financial firms, the revised plan also includes “$152 billion in unrelated tax breaks and broader tools for federal regulators to deal with the growing economic crisis,” according to the Wall Street Journal.

This is certainly good news for homebuyers nationwide because loans will certainly be more available thanks to the new measure. The bad news is that it does not directly address or assist homeowners who are currently facing foreclosure.

Of course, we always encourage distressed homeowners to contact their respective lending representatives early and often and alert them about any personal financial problems that could result in missed mortgage payments.

In this type of economy, it is important to remember that lenders and banks are more interested in working out mortgage problems rather than taking additional losses.

If all else fails remember that there are also experts available who can help stop foreclosure. Click here.

Learn how to capitalize on amazing foreclosure home deals and save BIG money with Sharon Restrepo — a foreclosure investing pro with years of experience under her belt — during a special Foreclosure.com online real estate training seminar.

“Find Your Own Foreclosure Deal” is a LIVE 90-minute Webinar educational session that is set for Wednesday, October 8 at 4 p.m. ET. To catch — and register for — the instructional session CLICK HERE.

Get the most house for the least amount of money by learning how to invest in foreclosure real estate — SAVE as much as 50 percent on your dream home or next investment!

Sharon has helped countless families achieve their dreams of homeownership at the lowest prices possible. Amazing deals with built-in equity are around virtually every corner in your ideal neighborhood and Sharon is going to show you exactly how to capitalize on them.

Here are just some of the topics that Sharon will cover:

• How to find the property you want
• Buying from the bank (REO)
• Buying from the homeowner in foreclosure
• How to make the right offer
• Clauses to use to protect yourself
• Financing
• Closing and moving in

From identifying the right home to how to finance a mortgage that fits your budget, Sharon will take you by the hand and walk you through the entire process step-by-step. And it’ll only take little more than an hour of time to save you thousands!

Register NOW for “Find Your Own Foreclosure Deal” right here. Spots are limited and filling up FAST!

Webinars are LIVE educational sessions that let participants see, hear and interact with real estate experts right from their personal computer screens. In fact, Webinars are driven in part by visitor feedback and questions that are posed during the sessions. For more information and course offerings click here.