The Main Stream
Feds award Arizona $45 million in foreclosure aid
Posted: Sep 9, 2010 9:01 AM
PHOENIX (AP) - Arizonans facing foreclosure are getting some help from the federal government.
The U.S. Department of Housing and Urban Development has given the state $45 million through the federal government's Neighborhood Stabilization Program. It's the third time the state has received money.
The state, three counties and eight cities will share money aimed at reversing and preventing blight and abandonment from foreclosures. Local governments are allowed to use the money to purchase, redevelop or raze foreclosed properties.
Phoenix alone received $16 million to help homeowners and neighborhoods struggling through the foreclosure crisis.
In all, Arizona has received more than $301 million in stabilization program money with more than $115 million going to Phoenix.
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