2012-05-24 — huffingtonpost.com
As it turns out, the $2.5 Billion that was initially doled out among the states to help homeowners isn't going to help homeowners after all. States are going to use some or all of the money to cover budget holes in state budgets and general funds... in Georgia, the state with fifth highest foreclosure rate... the state constitution requires that the money go into the state treasury. The governor would prefer that it go from there to the rainy day fund. The rainy day fund is state savings to cover emergencies and hard times.
The irony of Georgia putting money into a rainy day fund that was intended for underwater homeowners would be funny if it weren't for the tragedy of it all.
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