Important TARP funds targeted for homeowners have not been released

By
Real Estate Broker/Owner with Buyers' Choice Realty

Important TARP funds targeted for homeowners have not been released

 

Only 3 percent of the $7.6 billion in TARP funds that are targeted for troubled homeowners facing foreclosure have been spent, according to a report by the Office of the Special Inspector General for the Troubled Asset Relief Fund.

The Hardest Hit Fund was created in 2010 to help struggling homeowners, but the Treasury Department has failed to distribute the vast majority of the money in the last two years due to "a lack of comprehensive planning," the report said.

Read More:  Important TARP funds targeted for homeowners have not been released




 

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Comments (5)

Mirela Monte
Buyers' Choice Realty - North Myrtle Beach, SC
Myrtle Beach Real Estate

Very sad and a complete let-down.

Apr 21, 2012 09:13 AM
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Evening Mirela,  Sad is the correct word choice.  Any idea why the planning issue wasn't handled up front ?

Apr 21, 2012 09:27 AM
Mike Morrison
Will & Will Real Estate Brokers, The Woodlands, Texas - Houston, TX

Hope & Change in action. How's all that change working out??

Apr 21, 2012 10:19 AM
Mirela Monte
Buyers' Choice Realty - North Myrtle Beach, SC
Myrtle Beach Real Estate

Bill: Indeed!

Mike:  Yeah. We have some real choices, don't we?  It's becoming harder and harder to vote for the lesser of two evils...

 

 

Apr 21, 2012 12:02 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Mirela

The ball has been dropped big time on this> Poor everything is about right for this one.

Good luck and success.

Lou Ludwig

Apr 21, 2012 12:52 PM