Florida has the highest foreclosure rate in the country as of October 2013, according to a recent Congressional Research Service report. An initiative called the Hardest Hit Fund was created following the recession. Its purpose is helping to keep families from losing their homes. The fund involves the District of Columbia and 18 states encompassing a total of 66 programs that utilize money from the fund.
To date, only $3 billion has been distributed to homeowners in need by the states involved, although $7.6 billion has been provided for the fund by the government. According to the CRS, Alabama had only disbursed 21 percent of its funds, Florida 26 percent, Michigan 29, Arizona 34, California 36 and Nevada only a little better than half. Rhode Island, which was not very hard hit, had disbursed 84 percent to homeowners. In addition, Washington D.C. and Oregon had disbursed almost 70 percent of the money allocated to them. The problem seems to be that the hardest hit states received the most money but had allegedly distributed the least.