Damning report finds state agencies wasted millions meant for struggling homeowners

A damning new report from a federal watchdog shows that 19 state housing finance agencies wasted millions of dollars that should have gone to struggling homeowners as part of the government’s Hardest Hit Fund program.

The report, published Friday by the Office of the Special Inspector General for the Troubled Asset Relief Program, showed that SIGTARP’s investigation found that the all 19 of the state housing finance agencies that participated in the Hardest Hit Fund collectively wasted $3 million on items like barbecues, steak and seafood dinners, gift cards, flowers, gym memberships, employee bonuses, litigation, celebrations, and cars, instead of using the money to help struggling borrowers.

Read on.

2 responses to “Damning report finds state agencies wasted millions meant for struggling homeowners

  1. Reblogged this on Deadly Clear and commented:
    Un-frickin’ real! Families are made homeless while Treasury was partying with the state! Such a life.

  2. Reblogged this on California freelance paralegal and commented:
    That is outrageous that funds that were supposed to be spent to help homeowners that were hit the hardest by the financial crisis were used instead to enrich a bunch of lazy bureaucrats.

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