South Carolina one of 5 states approved for $600M in housing aid (update: $58M more on the way)

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Update August 11:

According to The State, the U.S. Treasury Department announced today that South Carolina will receive another $58 million from the federal Hardest Hit Fund to help homeowners struggling with mortgage payments after a job loss.

South Carolina is one of 17 states plus Washington, D.C., which will split $2 billion for the cause.

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First reporting:

South Carolina in one of fiver states chosen by the Obama administration to get a cut of the $600 million to help unemployed homeowners avoid foreclosure.

The Treasury Department said Wednesday that mortgage-assistance proposals submitted by North Carolina, Ohio, Oregon, Rhode Island and South Carolina received approval. The states estimate their efforts could help up to 50,000 homeowners.

The Post and Courier has the wire report.

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