Home Foreclosure Prevention Program in R.I.

Only about one-third of the more than $79 million available from a federal foreclosure prevention program in Rhode Island has been spent to help struggling homeowners.

Some states have spent a far lower percentage of their Hardest Hit Fund allocations than Rhode Island. Andrea Risotto, a Treasury Department spokeswoman, said that as of the end of May, states had drawn almost $1 billion from the $7.6 billion available to help homeowners make their mortgage payments. As of the end of last month, about $650 million of the total — or about 9 percent — had actually been spent, she said, though “much more” has been committed.

President Barack Obama started the Hardest Hit Fund in 2010 to provide assistance to the states most affected by the housing and economic recessions. It operates in 18 states and the District of Columbia.

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