Florida Courts Receive $5 Million from Fraudclosure Settlement that Provides “Technology Solutions” to Speed Foreclosure Cases Through the System
Florida homeowners, and homebuyers, get $60 million boost
State lawmakers this week divvied up how $60 million of Florida’s mortgage settlement money will be used to aid struggling homeowners, with more than half flowing to first-time homebuyers for down payment assistance and millions directed at borrowers through legal aid and housing counseling.
Also, Florida’s circuit courts will get $5 million for additional employees to handle foreclosures and to provide “technology solutions” to speed cases through the system.
The money is part of $334 million the state received in the March settlement between attorneys general and the nation’s five largest banks to atone for foreclosure-related abuses. State coffers got $74 million of the payment, which included a 10 percent civil penalty allowed for in the settlement and another $40 million civil penalty added through an agreement between lawmakers and Florida Attorney General Pam Bondi.
The lion’s share, $200 million, will be spent on “housing-related purposes” at the discretion of lawmakers who will dole it out during this year’s legislative session.