WASHINGTON (AP) — A government watchdog says there has been little impact from the multibillion-dollar effort to help at-risk homeowners avoid foreclosure.

Special inspector general for the financial bailouts Neil Barofsky says the program has not "put an appreciable dent in foreclosure filings." He says the Treasury Department has ignored earlier demands that it set clearer goals for the program.

The homeownership program aims to reduce mortgage payments for millions of homeowners who can't afford their monthly bills. Recent data suggest it has helped about 400,000 households avoid foreclosure. About 530,000 have fallen out of the program.

Barofsky is testifying before the Senate Finance Committee. The committee also will hear from leaders of two other bodies that oversee the $700 billion bailout program.