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Gov't OKs $600M in housing aid in NC, SC, 3 states
Posted: 08.04.2010 at 10:13 AM
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WASHINGTON (AP) -- 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.
(Copyright ©2010 by The Associated Press. All Rights Reserved.)