Saturday, October 02, 2010
KY To Get Additional Funding To Help With Housing Concerns
KENTUCKY...
Gov. Steve Beshear, along with Kentucky Housing Corporation (KHC) Chief Executive Officer Richard L. McQuady, announced that Kentucky will receive additional funding from the U.S. Treasury Department to help unemployed and underemployed homeowners pay their mortgages as they seek work. Kentucky originally expected to receive $55.6million, but received notification that the state will receive an additional $93.3 million for a total of $148.9 million.
“Kentucky’s unemployment rate continues to be at very high levels and we know we have families in need,” said Gov. Beshear. “This additional funding is much needed and means we will be able to assist even more Kentuckians.”
Geared to serve low-to-moderate-income households, this loan program is funded through Troubled Asset Relief Program (TARP) funds are dedicated to the expansion of the Housing Finance Agency Innovation Fund for the Hardest-Hit Housing Markets (the Hardest-Hit Fund.
Details are still being determined, but it is anticipated that the program will be launched statewide in April 2011. Until these funds are made available, Kentuckians who are facing foreclosure or near facing foreclosure can seek free help through the Kentucky Homeownership Protection Center.
# posted by Homer Owens @ 7:43 PM 
