SIGTARP REPORT | Factors Affecting Implementation of the Hardest Hit Fund Program

TARP Bailout Money Fails To Reach Neediest Homeowners After Two Years: Report

A federal housing program funded with taxpayer money left over from the government’s bailout of the banks and auto companies is failing to deliver on its promised relief to struggling homeowners.

The Hardest Hit Fund, a $7.6 billion initiative established by the federal government in February 2010 to help families in states most crippled by the collapsed housing market, has distributed just 3 percent of its money — or $217.4 million — to help homeowners, according to a report released Thursday by the Office of the Special Inspector General for the Troubled Asset Relief Fund, or SIGTARP.

“Look at the TARP money that goes out to the banks,” said Special Inspector General Christy Romero in an interview with The Huffington Post. “That goes out in a matter of days. This has been two years and only 3 percent of these funds have trickled out to homeowners.”

Rest here…

Copy of the report below…



Factors Affecting Implementation of the Hardest Hit Fund Program

5 Responses to “SIGTARP REPORT | Factors Affecting Implementation of the Hardest Hit Fund Program”
    • incognito123 says:

      It is not a scam, BUT, it is being squeezed to barely have money come out like usual. Open the flood gates for the banksters, but trickle money to the real people.

  1. readdocs says:

    There can be effective answer until there are names put to the people who make these decisions.
    Plus finding where the money really goes.

  2. Sergio de la Cruz says:

    Yeah. That the hardest Hit Funds have not been utilized as pretended to help distressed homeowners in Hardest Hits States? This is not news to me and it should surprise anyone. What about when you submit your application online and weeks and months pass and nothing happens. Then you go back online to check on the status of your application. And SURPRISE!! It has been denied, closed, name it. The reason? the application was incomplete, in other words information about my income…was missing!!!! (?) But what they did not know is that I had a copy of the application that I submitted online and yes!!! the information about my income WAS THERE!!! There was no information missing, no reason to deny my application, no reason to close my application and not even INFORM ME!!! You figure it out. There is a sinister dirty game with all this blah…blah…blah…there is no help program, there is no rescue assistance, there are no funds to help the distressed regular homeowner like you and me…where are these funds going to? Who makes the decision to distribute the funds? Who the damn is putting its dirty hands in the online electronic applications for the program? If you are investigating, you know that you must dig deeper into the scheme. But you keep looking superficially into it. You too are part of this lie then. I’m done!! ByE!

  3. Pamela Edwards says:

    And this is a surprise how?That money was never meant for the home owners as far as the banks are concerned this program was just some way to get more houses.

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