Summary Box: Ariz., Calif., Fla., Mich. and Nev. to get $1.5 billion in federal housing aid
By APWednesday, June 23, 2010
Summary Box: 5 states receive $1.5B in housing aid
HOUSING HELP FOR 5 STATES: The Treasury Department approved plans to provide $1.5 billion in housing aid to Arizona, California, Florida, Michigan and Nevada.
PLAN DETAILS: The plans aim to help up to 93,000 borrowers who have lost jobs make mortgage payments, cancel second mortgages that have blocked loan modifications and assist with the payment of piled-up mortgage bills.
MORE AID: Besides these states, the Obama administration is providing an additional $600 million in financial support to help homeowners in Ohio, North Carolina, South Carolina, Oregon and Rhode Island, where unemployment is high.
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