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
