The Real Deal Miami

Poor marks for “Hardest Hit” foreclosure fund

April 12, 2012 11:15AM

The federal Hardest Hit Fund has undergone “significant delays in providing help to homeowners,” according to an audit from the Office of the Special Inspector General for the Trouble Asset Relief Program, the Palm Beach Post reported. While a total of $7.6 billion was given to the states under the program, less than $830 million has been withdrawn. In Florida, that number was $77.3 million, although a Florida official said it had been a struggle to get banks and loan servicers on board. “There is no stick with the carrot to force servicers to participate,” the official said. [Palm Beach Post]