There were more than 1 million foreclosure filings in the first half of 2011 alone, yet only a fraction of the government aid that was supposed to reach homeowners has been spent:
Read the full report @ Pro Publica.Instead, Congress has mandated that the leftover money be used to pay down the debt.
Of the $45.6 billion in Trouble Asset Relief Program funds meant to aid homeowners, the most recent numbers available show that only about $2 billion has actually gone out the door.
The low number reflects how little the government’s home loan modification and other programs have actually helped homeowners deal with the foreclosure crisis.
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