The Hardest Hit Fund, a fund created to support homeowners hit hardest by the recession, has dispersed just 3 percent of its budget since it’s creation in 2010, a new report by the special inspector general for the Troubled Asset Relief Program has found. From the New York Times:
As of the end of 2011, the Hardest Hit Fund had spent $217.4 million out of its $7.6 billion budget, the report found. The program is intended to reach homeowners who are unemployed, or living in areas with high unemployment rates or steeply falling home values.
The Treasury Department estimated that the program would reach 3 to 4 million homeowners, however it has aided fewer than a million at this time.
