Servicing

Federal foreclosure relief funds fail to reach borrowers

A $7.6 billion federal program to help prevent foreclosures is still struggling to get money out to homeowners more than two years after the money went to states.

Through November, $900 million had gone to homeowners, and another $620 million had been committed to them in the 18 states and Washington, D.C., involved in the Hardest Hit program, the Treasury Department says.

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