RI to receive millions in federal housing aid

Providence, R.I. – Rhode Island is receiving nearly $14 million in federal aid to prevent home foreclosures.

The funds were announced yesterday by the Obama administration and by the state's two U.S. senators, Jack Reed and Sheldon Whitehouse.

The money is part of $3 billion in housing aid that the government is giving states with persistently high unemployment rates and to a new program being run by the Department of Housing and Urban Development.

The funds aren't expected to be available until the fall.