Illinois will receive $114 million to help homeowners still struggling from the 2008 recession. The money is in addition to the nearly $450 million the federal government has given the state since 2010 from an $8 billion account called the Hardest Hit Fund.
Money may be used to help fix underwater mortgages, raze homes or help first-time home-buyers.
Eighteen states have received Hardest Hit funds. Only California, Florida and Michigan have received more than Illinois. The exact use for the funds is yet to be determined. The U.S. Treasury Department must approve the state’s plans.