The Obama administration plans to funnel a total of $3 billion in aid to jobless homeowners having trouble making payments through various state agencies. Some $2 billion in payments will be made by the Hardest Hit Fund created through the Treasury Department to state Housing Finance Agencies (HFAs). The other $1 billion will be provided through the Department of Housing and Urban Development and used to supply 24 months of assistance to homeowners on the brink of foreclosure. Qualifying borrowers must have had solid payment records prior to loss of income and must be at least 3 months behind in their payments.

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