Obama Administration Approves $1.5 Billion in Foreclosure-Prevention Funding

On June 23, the Obama Administration approved $1.5 billion in “Hardest Hit Fund” foreclosure-prevention funding for state Housing Financing Agencies. The funding is meant to support struggling homeowners in Arizona, California, Florida, Michigan, and Nevada. President Obama established the “Hardest Hit Fund” in February 2010 in order to provide aid to those most affected by…