According to the Tribune, almost as many Illinois homeowners are being denied hardest-hit funds as are receiving them, but the program nevertheless distributed almost $4.8 million last year.
The federally funded $345 million program, which began in September, awarded financial assistance to 539 borrowers while denying it to 496 in 2011, according to a report submitted by the Illinois Housing Development Authority to the Treasury Department last week. The overwhelming majority of those funds were disbursed in the fourth quarter.
