With housing prices dropping sharply, and foreclosure filings against more than 1 million properties in the first half of this year, the Obama administration is scrambling for ways to help homeowners.
One place they won't be looking: an estimated $30 billion from the bailout that was slated to help homeowners but is likely to remain unspent.
Instead, Congress has mandated that the leftover money be used to pay down the debt.
Of the $45.6 billion in Trouble Asset Relief Program funds meant to aid homeowners, the most recent numbers available show that only about $2 billion has actually gone out the door.
And you better moan like you like it too.
http://www.propublica.org/blog/item/as-administration-scrambles-to-help-homeowners-billions-left-unspent
