The Obama administration revealed that $600 million in financial support for five more states with high unemployment rate that have been thumped by the housing bust.
Ohio got the largest share of funding, at $172 million, followed by North Carolina at $159 million and South Carolina at $138 million. Oregon and Rhode Island are due to receive $88 million and $43 million respectively.
The money will be given to state housing finance agencies. The Treasury Department provided board criteria that should meet the designed mortgage assistance programs.
The assistant Treasury secretary, Herbert Allison, said “The purpose of this is to foster innovation in dealing with what is a highly localized problem around the…