Treasury sends $418M to hard-hit Florida

Florida is in line to receive $418 million of a $1.5 billion federal fund designed to tackle foreclosures in some of the nation’s “hardest hit” areas.

The money, issued to state housing finance agencies, is designed to support local initiatives to assist struggling homeowners in affected states as part of the first round of funding available under this new program, according to the U.S. Treasury Department.