While Families Lose Homes to Foreclosure, State Agency Delays Federal Aid

"Since February, the state-run finance agency has received nearly $2 billion from the federal government to help people like Mr. Chavarria avoid losing their homes. But nearly a year after President Obama announced the delivery of the first $700 million installment for the Keep Your Home California initiative, the Housing Finance Agency, which administers the program, has not taken applications or compiled a waiting list for qualified borrowers."