MENU
component-ddb-728x90-v1-01-desktop

$600M in housing aid headed to SC, 4 other states

The Obama administration plans to send $600 million to help unemployed homeowners avoid foreclosure in five states.

The Obama administration plans to send $600 million to help unemployed homeowners avoid foreclosure in five states.

The Treasury Department says mortgage-assistance proposals submitted by North Carolina, Ohio, Oregon, Rhode Island and South Carolina received approval. The states estimate their efforts could help up to 50,000 homeowners.

The administration is directing $2.1 billion from its existing $75 billion mortgage assistance program to a total of 10 states. Each state designed its own plan.

Treasury approved money in June for Arizona, California, Florida, Michigan and Nevada.

Trending