OBAMA ADMINISTRATION APPROVES STATE PLANS FOR USE OF $1.5 BILLION IN ‘HARDEST HIT FUND’ FORECLOSURE-PREVENTION FUNDING

WASHINGTON, DC – June 23, 2010 – (RealEstateRama) — State Housing Finance Agencies (HFAs) in Arizona, California, Florida, Michigan, and Nevada can begin to use $1.5 billion in “Hardest Hit Fund” foreclosure-prevention funding under plans approved today by the Obama Administration. This aid will support innovative local initiatives to assist struggling homeowners in those states, as part of the first round of funding available under this new program


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