Millions for foreclosure prevention unspent in RI

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PROVIDENCE, R.I. (AP) — Only about one-third of the more than $79 million available from a federal foreclosure prevention program in Rhode Island has been spent to help struggling homeowners, officials said Monday.

Rhode Island Housing, the quasi-public agency that administers the Hardest Hit Fund in the state, said that about $25 million had gone to nearly 1,700 homeowners by the end of May. Officials say another $6 million in assistance to 300 more homeowners has been approved but not finalized.

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