ARIZONA HOME FORCLOSURE PREVENTION FUNDING CORPORATION

ARIZONA HOME FORCLOSURE PREVENTION FUNDING CORPORATION ON FEBRUARY 19, 2010, PRESIDENT OBAMA ANNOUNCED 1.5 BILLION IN FUNDING FOR INNOVATIVE MEASURES TO HELP FAMILIES IN THE STATES THAT HAVE BEEN HIT THE HARDEST BY THE AFTERMATH OF THE BURST OF THE HOUSING BUBBLE. THE ORGANIZATION WAS ESTABLISTED AS A NOT-FOR-PROFIT ORGANIZATION FOR THE PURPOSE OF ACTING AS AN ELIGIBLE ENTITY UNDER THE GUIDELINES AND RECEIVING, HOLDING, AND DISBURSING FUNDS UNDER THE REQUIREMENTS OF THE U.S. TREASURY DEPARTMENT FOR THE PURPOSE OF ASSISTING ARIZONANS TO PREVENT FORECLOSURE OF THEIR HOMES. THE ORGANIZATION PROVIDES THE FOLLOWING PROGRAM ASSISTANCE: PRINCIPAL REDUCTION ASSISTANCE, SECOND MORTGAGE ASSISTANCE, AND UNEMPLOYMENT MORTGAGE ASSISTANCE.