Home > Uncategorized > ProPublica – Gov’t Has Spent Small Fraction of $50 Billion Pledged for Loan Mods

ProPublica – Gov’t Has Spent Small Fraction of $50 Billion Pledged for Loan Mods

From ProPublica:

Gov’t Has Spent Small Fraction of $50 Billion Pledged for Loan Mods

by Paul Kiel
ProPublica, Nov. 11, 2010, 12:47 p.m.

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(Robyn Beck/AFP/Getty Images)

When the Obama administration launched its flagship foreclosure prevention program in early 2009, it pledged to spend up to $50 billion helping struggling homeowners. But the government has so far only spent a tiny fraction of that.

A recent Treasury Department report summarizing TARP spending put the total at $600 million through October.

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