The new title was confirmed at AFM, along with the fact that the movie will be shot in 3D. Here's the plot breakdown for this upcoming sequel:
"The sequel follows Heather Mason, along with her father, who have been on the run - always one step ahead of dangerous forces that she doesn't full understand. Now on the eve of her 18th birthday, plagued by horrific nightmares and the disappearance of her father, Heather discovers she's not who she thinks she is. The revelation leads her deeper into a demonic world that threatens to trap her in Silent Hill forever."