Sunday, November 24, 2013

Feds rip Arizona for mortgage relief failures

A new audit by the federal bailout watchdog confirmed Arizona has one of the worst records in handing out federal housing aid to struggling homeowners.

The quarterly audit of the Troubled Asset Relief Program, or TARP, released late Monday found that Arizona distributed the second-lowest percentage of federal Hardest Hit mortgage aid directly to homeowners despite being one of the states hardest hit by the housing bust. The audit covered a period of roughly three years.

The Arizona Department of Housing disputed the audit’s findings, calling them “flawed and misleading.”

Read more...Feds rip Arizona for mortgage relief failures

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