Mortgage Bailouts: $2.1B to ‘Hardest-Hit’

Mortgage Bailouts: $2.1B to ‘Hardest-Hit’

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 · New Mortgage Bailouts Cause Controversy Author: CA Hagy on May 1, 2010 As if the Obama administration does not have enough problems, the new mortgage bailouts are causing people to become even more disgruntled.

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It would use up to $14 billion of what remains of the $700 billion bailout to. into the mortgage market will continue to be an exercise in futility,” said Representative Darrell Issa of California,

As of June 30, Oregon had drawn down $107 million of the $220 million allocated under the Hardest Hit Fund, a .6 billion program administered by the Treasury Department that pushes bailout dollars to housing agencies in states especially battered by the foreclosure crisis.

Because of that enormous drop, Florida’s Hardest Hit Fund will stop accepting applications Jan. 31 for its three main mortgage assistance programs. The deadline signals a major wind-down of the $1.1 billion fund, which has helped thousands of struggling Florida homeowners like Dena Tingling.

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Then, after paying one half of my mortgage payment ($ 630.) each month, on their forbearance plan, they said that these income sources would not qualify. $ 3,300 monthly income. So, I went seeking help with the Obama "Hardest Hit Program" (California) specifically set up to help unemployed people .

 · 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.

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