$3B in new help for jobless homeowners

'Hardest Hit' funding nearly doubled to $4.1B in 18 states

The Obama administration announced today that it will nearly double the size of a "Hardest Hit" foreclosure prevention fund to $4.1 billion, with an additional round of $2 billion in funding to state housing finance agencies that expands the program from 10 to 18 states and Washington, D.C.

The administration also said the U.S. Department of Housing and Urban Development will launch a complementary $1 billion Emergency Homeowners Loan Program to provide up to 24 months of assistance to unemployed homeowners at risk of foreclosure.