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RALEIGH -- Help is on the way for unemployed North Carolinians facing foreclosure.

The Obama administration plans to send $600 million to help unemployed homeowners avoid foreclosure in five states: North Carolina, Ohio, Oregon, Rhode Island and South Carolina. The states estimate their efforts could help up to 50,000 homeowners. The initiative will be financed through the government's Troubled Assets Relief Program.

North Carolina is set to receive $159 million to test new approaches to helping borrowers save their homes from foreclosure.

“The North Carolina Housing Finance Agency’s innovative plan to prevent foreclosures is a welcome step to help the thousands of North Carolina families who are struggling during these tough economic times," Gov. Bev Perdue said in a statement Wednesday. "A good home is a foundation of a stable family and so these funds are critical to getting these families back on their feet."

Ten percent of North Carolinians were unemployed in the month of June. The national unemployment rate for July will be released Friday.

The new programs will be available in December.