Bureaucratic hurdles mean long waits for rebuilding aid for Sandy victims in NY and NJ

As a second New Year since Superstorm Sandy approaches, many coastal residents are still waiting for New York, New Jersey and New York City to distribute billions of federal dollars that were supposed to go directly to people struggling to rebuild their homes.

Only a fraction of that money has been spent, leaving storm victims in a frustrating maze of bureaucracy.

Checks could be in the mail by New Year's Day for many storm victims, but major disparities are emerging in terms of how quickly people can expect to get help.

Long Island homeowners could get at least $338 million in aid payments by Jan. 1.

But New York City residents could wind up waiting months and New Jersey has 8,200 people on a waiting list for rebuilding grants.