Hello neighbors,

How would you feel if the state paid off your mortgage in troubling times? Many distressed homeowners would welcome this idea, who wouldn't? According to recent reports, 4 states are considering doing just that. Florida, Michigan, California, and Arizona are expecting $1.4 billion from the Obama administration to assist with those who are unemployed/underwater avoid foreclosure.

However, there are both opposers and supporters of the idea of the government assisting with mortgages. Some believe that helping unemployed/underwater owners avoid foreclosure will lead to a lack of interest in actually finding a job. Those that are for the government paying mortgages feel something needs to be done in the already suffering housing market to prevent property values from declining any further.

When the administration first introduced what is being called the Hardest Hit Fund initiative this past February, it hoped to find new and creative programs to help the unemployed/underwater.

So far the federal government is issuing out a total of $2.1 billion to 10 U.S. states. Therefore in addition to Florida, Michigan, California, and Arizona 6 other states will also receive money and they are: Nevada, North Carolina, South Carolina, Rhode Island, Ohio, and Oregon.

As for the remaining states, they have yet to submit their plans to the Treasury for approval or have not publicly released their information.