Arizona to receive another $118 million in federal foreclosure help
A rizona will receive another $118 million in funds from the U.S. Department of Housing and Urban Development to help neighborhoods with too many foreclosures.
The money will come in the next few months as part of the federal Neighborhood Stabilization Program.
Phoenix’s share of this round of funding will be $60 million. Other recipients are the non-profit Chicanos Por La Causa ($36 million) and Pima County ($22 million).
Funding is awarded based on need. Arizona is one of the states hardest hit by foreclosures. Applications for this round of funding were submitted late last year.
In early 2009, several Valley communities, Maricopa and …
