From: Whipple, Deb (GOV)
Sent: Wednesday, August 11, 2010 4:17 PM
Subject: What the Governor's Talking about Today
What the Governor’s Talking about Today

Wednesday, August 11, 2010

 

Governor Announces $128 Million in Additional Federal Support to Prevent Foreclosures in Michigan

The governor today announced that the Michigan State Housing Development Authority (MSHDA) will receive $128.4 million in additional support from the Obama administration to help Michigan homeowners struggling to make their mortgage payments due to unemployment.

 

Michigan is among 17 states and the District of Columbia that will receive $2 billion of additional assistance from the U.S. Department of Treasury through the existing Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (the “Hardest Hit Fund”).  President Obama first announced the Hardest Hit Fund in February 2010 to give states hit hard by the economic downturn flexibility in determining how to design and implement programs to meet the local challenges homeowners in their state are facing.

 

In June, the U.S. Departments of Treasury and Housing and Urban Development approved MSHDA’s plan to distribute $154.5 million in federal funds to help homeowners who:

MSHDA had estimated the plan would help 17,000 at-risk homeowners, including 11,000 residents who are unemployed.  With the additional $128.4 million in federal funds announced today, MSHDA should be able to assist another 13,000 homeowners who are unemployed.

MSHDA’s Hardest Hit Fund was developed in partnership with representatives from the Michigan Bankers Association, Michigan Credit Union League, Michigan Association of Community Bankers, Michigan Association of Realtors, Michigan Foreclosure Task Force and MSHDA’s statewide homeownership counseling network.

Key message:

·        We’re eager to use these federal funds to help at-risk families in Michigan avoid foreclosure.  Helping families stay in their homes benefits all Michigan homeowners by stabilizing neighborhoods and property values.

 Six Michigan Scholars Will Receive Fellowships Funded by Recovery Act

Six Michigan students are among 150 students across the country selected to receive graduate fellowships through the U.S. Department of Energy Graduate Fellowship Program, the governor announced today.  The program is supported in part by $12.5 million in funding from the federal Recovery Act.
 
The program’s goal is to encourage students to pursue graduate degrees in basic research in physics, biology, chemistry, mathematics, engineering, computational sciences and environmental science. 
 
Three of the students are from the University of Michigan, two are from Michigan Technological University and one is from Michigan State University.  Each graduate fellow will receive $50,500 a year for up to three years to assist with tuition, living expenses, research materials and travel to Department of Energy research facilities.
 
A complete list of awardees and eligibility requirements is available at the Office of Science Graduate Fellowship Program website at http://scgf.orau.gov/fy2010-fellowship-awardees.html

 

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