During a speech in Henderson, Nevada, President Obama today announced $1.5 billion in funding to help struglling homeowners in states hit hardest by decling home values and unemployment. The effort is expected to help state agencies in California, Nevada, Arizona, Florida and Michigan, according to reports. The money will come from the Troubled Asset Relief Fund (TARP).
Here are several accounts of the announcement:
· DS News: Obama Pledges $1.5B for Unemployed and Underwater Homeowners
· Real Estate Economy Watch: Obama Aids Big Bust States
· White House.gov: Helping the Hardest Hit Housing Markets
· USA Today: Obama unveils $1.5 billion plan for homeowners
· MarketWatch: Obama targeting homeowners with $1.5 billion in assistance
• BusinessWeek: Obama Announces $1.5 Billion in Aid for Homeowners
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