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Federal foreclosure program used little in SC - Live5News.com | Charleston, SC | News, Weather, Sports

Federal foreclosure program used little in SC

HILTON HEAD ISLAND, S.C. (AP) - A federal program designed to help people facing foreclosure in South Carolina is getting few takers.

The Island Packet of Hilton Head reports that less than 10% of the money set aside 18 months ago to help people through the South Carolina Homeownership and Employment Lending Program has been given out.

South Carolina was 1 of 5 states to qualify starting in January 2011 for the federal "Hardest-Hit Fund" because of its high unemployment. But just $26 million of the $295 million in aid has been given out.

One group helping homeowners say it's too tough to qualify for the money. Homeowners must be unemployed, underemployed, dealing with the death of a spouse or facing steep medical bills.

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