5 states get $600M for foreclosure prevention

Latest allocation goes to Carolinas, Ohio, Oregon, Rhode Island

The Obama administration has released a second round of funding that will help state Housing Finance Agencies assist an estimated 50,000 homeowners in five states hit hard by unemployment.

The Treasury Department announced today that it had approved plans submitted by HFAs in North Carolina, Ohio, Oregon, Rhode Island and South Carolina to allocate $600 million from the $2.1 billion "Hardest Hit Fund."