Foreclosure fund gets $600 million to help residents of 5 more states save homes

By Renae Merle
Tuesday, March 30, 2010
The Obama administration announced Monday that it is expanding by $600 million a fund aimed at helping states tackle the foreclosure crisis with locally tailored approaches.
State housing finance agencies from North Carolina, South Carolina, Ohio, Oregon and Rhode Island will share $600 million to test new approaches to helping borrowers save their homes from foreclosure. That is in addition to $1.5 billion set aside for California, Nevada, Arizona, Michigan and Florida when the program was initially announced in February. Both initiatives will be financed through the government's Troubled Assets Relief Program...