Nov 2, 2012 | Posted by: roboblogger | Full story: Business Journal
Florida Attorney General Palm Bondi has come to an agreement with the leaders of the Florida Legislature to use $260 million of the national mortgage settlement from big banks for homeowner relief in the state.
“Reverse mortgage loan Texas”
Since: Sep 12
Most of those funds were allocated by banks directly to affected borrowers, such as for modifications and direct payments. Yet,$334 million was set aside for Florida to decide how to use.
Initially,$34 million of that was committed to the state’s general revenue fund. After meeting with Florida Senate President-designate Don Gaetz (R-Niceville) and Florida House Speaker-designate Will Weatherford (R-Wesley Chapel), Bondi agreed that another $40 million would go to general revenue.
The rest of the money will help homeowners. Bondi said $60 million will be used for down payment assistance, foreclosure-related legal assistance, improving case flow in state courts and enforcement efforts by her office.
Another $200 million will be used for foreclosure prevention, neighborhood revitalization, affordable housing, home buyer or renter assistance, legal assistance, counseling and other housing-related programs.
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