Florida AG asks public how to spend mortgage settlement funds

By Kerri Ann Panchuk
• May 7, 2012 • 8:25am

Florida Attorney General Pam Bondi reached out to Florida residents this past week, asking them for ideas on how the state should spend the $300 million it received from the national mortgage servicing settlement.

Bondi's office is allowing members of the public to make suggestions by submitting a form through the AG's website.

The $300 million is part of the nationwide mortgage servicing settlement between state AGs and the big banks. The settlement was designed to solve the robo-signing crisis, compensate homeowners impacted by foreclosure processing issues and allow banks to resolve billions of dollars in foreclosure issues in one sweeping settlement.

Bondi's office will be taking suggestions on how to spend the money through May 14 at 5 p.m.  

The funding can be used to pay for housing counselors, foreclosure assistance hotlines, mediation programs, legal counsel for homeowners, housing remediation projects, anti-blight missions, fraud combating and more.

kpanchuk@housingwire.com

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States hit hard by foreclosures benefited the most from the $25 billion national mortgage settlement, according to data released by Joseph Smith, an independent monitor overseeing the distribution of aid.  

Servicers that took part in the 2012 National Mortgage Settlement have since distributed $50.63 billion in relief to more than 620,000 homeowners, Joseph Smith, the independent monitor overseeing the Office of Mortgage Settlement Oversight reported Tuesday.