$3 billion more for jobless homeowners
By Hibah Yousuf, staff reporterAugust 11, 2010: 2:02 PM ET
NEW YORK (CNNMoney.com) — The Obama administration is making $3 billion in additional funds available to help troubled home owners avoid foreclosure.
One part of the plan, announced Wednesday, includes a new $1 billion program that will offer loans to unemployed borrowers at risk of losing their homes. The loans, which will be dispersed through non-profit and housing agencies, will carry 0% interest and be good for a maximum of $50,000 for up to two years.
The government’s department of Housing and Urban Development stated it will announce details about the program, coined the Emergency Homeowner Loan Program, in the coming weeks.
Hardest Hit Fund: The administration also added $2 billion in support for its program that helps struggling home owners in the says with highest unemployment rates.
The government previously announced $2.1 billion for 10 of the hardest hit states. States were required to put together proposals on how they would use the money, and the Treasury completed approving those plans earlier this month
The additional $2 billion announced Wednesday will expand the program to a total of 17 states, and the nation’s capital, all of which have suffered unemployment rates higher than the national average for a year. 
More source:
$3 billion more on the way for unemployed homeowners - Aug. 11 ...$3 billion more for jobless homeowners – CNN Political Ticker ...
Government Plans More Aid for Jobless Homeowners - NYTimes.com
Unemployed Homeowners to Get $3 Billion in Aid - WSJ.com
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Submited at Thursday, August 12th, 2010 at 8:24 am on News by jessica
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