Posted: Feb 19, 2010 3:10 AM
Updated: Feb 19, 2010 3:10 AM
LAS VEGAS (AP) President Barack Obama is unveiling $1.5 billion in housing help in an appearance in Las Vegas, the city with the worst foreclosure crisis in the nation.
Obama's announcement Friday is the latest by a White House determined to show it is helping families rebound from a deep recession. The downturn is taking an election-year toll on Obama's party as voter frustration builds.
Obama will announce that housing finance agencies in the five hardest-hit states in the housing crisis will receive $1.5 billion to help spur local solutions to the problem. The five states are Arizona, California, Florida, Michigan and Nevada.
The plan was detailed by aides before the president's town hall meeting in Las Vegas.
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