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$334 million mortgage settlement

Out of $334 million in cash payments sent to Florida in a multibillion dollar mortgage settlement with major banks, more than $33 million will go to help bolster the state’s budget. Florida is one of several states taking a portion of the $2.5 billion in cash payments from big banks and using it for programs not directly related to the foreclosure crisis, according to ProPublica, a nonprofit investigative journalism organization. The ProPublica story, entitled Billion Dollar Bait & Switch: States Divert Foreclosure Deal Funds, can be found here.

[Last modified: Friday, May 25, 2012 2:24pm]


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