$154M For Struggling Mich. Homeowners

home $154M For Struggling Mich. HomeownersMore than 17,000 Michigan homeowners could avoid foreclosure following the Obama administration’s approval of a plan to funnel $154 million in federal funds to the state.

Governor Granholm’s office said that distribution of the money should start July 12.

Some funds will go to the 11,000 homeowners struggling with mortgage payments while getting unemployment benefits.

President Obama announced the national $1.5 billion investment earlier this year for state’s hit hardest by the mortgage crisis.

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