Gov't to give $600M in housing aid to 5 states

WASHINGTON - WASHINGTON (AP) - The Treasury Department plans to unveil $600 million in financial aid for five more states with high unemployment that have been slammed by the housing bust, two people briefed on the plan said.

The announcement of funding for North Carolina, Ohio, Oregon, South Carolina and Rhode Island was expected Monday. The people declined to be identified because the announcement was not yet public.

It comes on top of the $1.5 billion in funding announced last month by the Obama administration for Arizona, California, Florida, Michigan and Nevada, which all have deeply depressed home prices.

The new money is going to housing finance agencies in states with the most people in counties with unemployment rates above 12 percent.

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