Wednesday, May 16, 2012

States Diverting Mortgage Settlement Money to Other Uses - NYTimes.com

States Diverting Mortgage Settlement Money to Other Uses - NYTimes.com

Hundreds of millions of dollars meant to provide a little relief to the nation’s struggling homeowners is being diverted to plug state budget gaps.


In a budget proposed this week, California joined more than a dozen states that want to help close gaping shortfalls using money paid by the nation’s biggest banks and earmarked for foreclosure prevention, investigations of financial fraud and blunting the ill effects of the housing crisis. California was awarded more than $400 million from the banks, and Gov. Jerry Brown has proposed using the bulk of that sum to pay the state’s debts.

1 comment:

  1. This was a good suggestion that you put up here...dude…..hope that it benefits all the ones who land up here. 

    Alberta Mortgage

    ReplyDelete