HFAs to get $2.1B in TARP funds

'Hardest Hit Fund' targets 10 states

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Housing Finance Authorities in 10 states are eligible to recieve up to $2.1 billion in Troubled Asset Relief Program (TARP) funds to assist homeowners in states hard hit by price declines and unemployment.

The HFA Hardest Hit Fund will pay for targeted relief programs including unemployment assistance to homeowners to help prevent foreclosures, mortgage modifications on loans held by HFAs or other financial institutions, programs to pay down principal on overleveraged loans, and assistance with short sales and deeds-in-lieu of foreclosure to prevent foreclosures.