Obama Administration Approves Granholm Plan to Help Homeowners Avoid Foreclosure with $154.5 million in Federal Funds

LANSING, MI – June 23, 2010 – (RealEstateRama) — The U.S. Departments of Treasury and Housing and Urban Development (HUD) have approved the Granholm Administration’s plan to distribute $154.5 million in federal funds beginning July 12 that should help more than 17,000 Michigan households avoid foreclosure, including 11,000 homeowners who are currently drawing unemployment benefits and are struggling to make monthly mortgage payments.