Treasury Approves Five More HFA Foreclosure Prevention Plans

The Treasury Department on August 4 announced its approval of foreclosure prevention plans prepared by state Housing Finance Agencies (HFAs) in North Carolina, Ohio, Oregon, Rhode Island, and South Carolina under the Administration's $600 million second round of funding for the Hardest-Hit Fund initiative.  These funds will support state-designed initiatives to assist struggling homeowners in those states. This is the second round of foreclosure prevention plans announced by Treasury and administered through HFAs.  The latest round of approvals brings to a total of 10 the number of states who have received help.  The first round of funding, totaling $1.5 billion, was awarded on June 23 to Arizona, California, Florida, Michigan, and Nevada.

Barbara Thompson, executive director of the National Council of State Housing Agencies (NCSHA), said, "NCSHA is pleased Treasury has once again chosen state HFAs to help struggling homeowners keep their homes under the Hardest-Hit Fund initiative.  State HFAs continue to be key partners in the Administration'’s housing recovery efforts."  NCSHA represents state HFAs before Congress and the Administration in Washington. 

Thompson said, "With Treasury’s approval of these new plans, HFAs can begin implementation."

For more information, see Treasury’s press release, which includes a state-by-state summary of the Hardest Hit Fund proposals approved today, and NCSHA’s Hardest-Hit Fund resource center.