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House swapping as a means of achieving an affordable and particularly interesting vacation is on the rise. Instead of paying for expensive hotels or resorts, the homeowner simply swaps his house with another like-minded homeowner in the desired location for a few days or weeks.

Most families have tightened their vacation budgets during the economic squeeze. But some are determined to find ways to travel, even to foreign countries, despite the current hard times.

One viable option is by swapping their home with another owner who has similar plans, with no money consideration involved for either party. This, of course, has a downside. Some homeowners do not want any stranger occupying their resident for any period of time. They fear possible damage to their property or theft.

However, there are very few cases where such problems actually occur, according to industry leaders. If arrangements are carefully and thoughtfully made and a well-structured written agreement is in place, it is very unlikely that problems will be encountered.

House swapping is believed to have developed in the 1950s, but rose to prominence in the 1970s as more people got involved and considered it to be a viable vacation option, according to a report in Wikipedia Encyclopedia.

Some estimates indicate that 15 percent to 20 percent of traveling vacationers are participating in some form of house swapping. Summer is traditionally the peak season for house swapping, due to families traveling during summer vacations. It’s estimated that families can save approximately $5,000 by swapping their homes instead of booking hotels, resorts and rental cars.

Not all travelers are interested in house swapping solely to save money. They also see it as a means of meeting locals, seeing relatively untouristed regions and experiencing local culture. The Internet has made the process of finding a swap significantly easier with a number of websites devoted to house swapping.

Most of today’s home swappers start their search for a good match by accessing one of those websites. Most of the sites want an upfront membership fee before sharing possible matching properties. Some sites are much better than others. If possible, get recommendations before selecting a site.

Q: Are most homes occupied by families?

A: Surprisingly, the number of non-family households — people living alone or households that do not have any members related to the householder — has increased nearly five times in the past 50 years, from 7.9 million to 39.2 million, according to a report from John Burns, noted real estate consultant. At the same time, the number of family households has increased by just 1.7 times, from 45.1 million to 77.5 million.

Additionally, married couples now comprise less than half of all U.S. households. The percentage of households occupied by married couples has been declining at a rate of approximately 0.5 percent per year for the past 50 years, from 75 percent of all households in 1960 to only 48 percent last year, Burns pointed out.

Q: What mortgage relief is available to unemployed homeowners?

A: The Department of Housing and Urban Development (HUD) recently announced adjustments to Federal Housing Administration (FHA) requirements that will require servicers to extend the forbearance period for unemployed homeowners to 12 months.

HUD also intends to require servicers participating in the Making Home Affordable Program to extend the minimum forbearance period to 12 months wherever possible under regulator and investor guidelines. These adjustments will provide much-needed assistance for unemployed homeowners trying to stay in their homes while seeking new employment.

These changes are intended to set a standard for the mortgage industry to provide more robust assistance to unemployed homeowners in the economic downturn. The changes to FHA’s Special Forbearance Program will require servicers to extend the forbearance period for FHA borrowers who qualify for the program from four months to 12 months and remove upfront hurdles to make it easier for unemployed borrowers to qualify.

Q: Are home prices finally edging upward?

A: HUD and the Department of the Treasury recently released the June edition of the administration’s report on the nation’s housing market.

The latest housing data offer continued mixed signals, as home prices turned slightly upward, though they showed continued strain from foreclosures and distressed homes. As more homeowners secure mortgage relief, fewer borrowers entered the foreclosure pipeline in June.

Jim Woodard writes for Creators Syndicate, www.creators.com.