Today I am happy to announce more than $100 million in additional Troubled Asset Relief Program (TARP) funding for Illinois through the U.S. Department of the Treasury.
A stable housing market is the foundation of stable communities. Yet far too many Illinois
families continue to suffer the lingering effects of a financial crisis
that threatens the roof over their heads. This is especially true in
the Second District, which continues to wrestle with the highest
foreclosure rate in the state. The additional funding for the Hardest Hit
Fund will help get these families on firmer financial footing by
helping them avoid foreclosure, which in turn helps to stabilize the
broader housing market and strengthen the housing recovery in the Second
District and throughout Illinois.
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