U.S. Senator Bill Nelson Needs 2nd SIGTARP Investigation On the State Of Florida’ersus Mishandling Of Hardest Strike Funds
U.S. Sen. Bill Nelson (D-FL) offers requested an investigation to the state of Florida’ohydrates Hardest Hit Deposit mortgage assistance program. ?This is Nelson’s minute request to Treasury asking for the investigation. Nelson called for your analysis after an article looked in the?Tampa Bay Times?last week by reporter Myra Taylor Martin. The article?indicated the state seemed to be allocating monies from Florida’s Hardest Reach Program to advance payment assistance programs.
The Most challenging Hit Program came to be in 2010 after the casing crash. It was to help you distressed homeowners live in their homes. The state of Florida was handed $1 billion as part of the application.
Florida’s foreclosure rate remains the nation’s second highest. Yet, Martin found that:
?$50 trillion in Hardest Attack money is now being used to help people in all 5 counties buy residences.
Martin also found:
At least 5 other Hillsborough County residents who previously owned family homes have received up to $15,1,000 in help from any Florida Hardest Hit Fund Down Payment Aid Program.
Only 24,500 of the 116,000 troubled homeowners who used on Hardest Hit in Florida received every help since ’10. Almost half of Florida’vertisements $1 billion remains unspent. Little money not used by December 2017 must be returned towards U.S. Treasury Department.
Florida Is On SIGTARP’s RADAR
Florida’s mishandling of Trickiest Hit funds has also made it on the mouth of SIGTARP. SIGTARP’s?Christy Romero explained to the Tampa These types of Times:
States, particularly Georgia, have not done an effective job of getting these funds out to homeowners and also rather than do a much better job on current programs … they create other programs to spend on another individual.
SIGTARP found Florida got consistently under-performed compared to other states in getting the funds to desperate homeowners after Bill Nelson questioned a probe.
Bill Nelson has also questioned U.S. Treasury Secretary Jack Lew’s guidance into having SIGTARP conduct another investigation.?
In their letter to Jack port Lew, Nelson writes, “In light of this particular report, and what is apparently continued mismanagement of this application, I’m asking which you take a deeper look into whether the state does everything it can to fulfill the needs of all Floridians qualified to receive this guidance, and offer guidance when asked.”?