Federal investigators released a new report stating that Florida has underperformed other states in using federal mortgage assistance money to help desperate homeowners facing foreclosure.
According to the report released this week, the Special Inspector General for the Troubled Asset Relief Program said that, of the 18 states participating in the Treasury Department’s Hardest Hit Fund, Florida has the lowest.
Florida has consistently underperformed in approving homeowners for assistance, having one of the highest rates of denying assistance, and slow with processing applications.
Teria Brown, a homeowner from Miami, Fla., shared her experience of the foreclosure process.
“The process was very stressful and very long, I called everyday to try and get it worked out,” Brown said.
Multiple media outlets report that the special inspector’s office criticized the Treasury Department for failing to set spending targets that would have forced Florida to deliver assistance earlier on in the economic downturn.
The Treasury Department says the program has made progress in recent years.