Florida Legislature Should Not Raid Foreclosure Settlement Money, Nor Should it be Used to Foreclose Faster


Legislature should not raid foreclosure settlement money

House Speaker Will Weatherford promised this week that lawmakers would not spend millions in foreclosure settlement money on their “favorite projects that have nothing to do with the crisis.” That would be easier to believe if Rep. Weatherford, R-Wesley Chapel, and Senate President Don Gaetz, R-Niceville hadn’t insisted that the Florida Legislature control the bulk of the $334 million settlement. And if they hadn’t already siphoned off $74 million for the state’s treasury.

Rep. Weatherford, Sen. Gaetz and Attorney General Pam Bondi held a news conference Thursday to announce how lawmakers will spend $60 million of the settlement. The money had been sitting in escrow as legislative leaders and Ms. Bondi battled over control of it. Recently, they agreed that Ms. Bondi would direct $60 million to be spent immediately. The state would get $74 million allocated as civil penalties. And during the legislative session that begins in March, lawmakers get to decide how to spend the remaining $200 million.

Ms. Bondi asked that the $60 million go to housing-related programs. A state-run, first-time homebuyer program will get $35 million, legal aid groups will get $5 million to help foreclosure victims, $10 million will go to housing and credit counseling groups and $5 million will go to state courts, for hiring to expedite foreclosure cases. Another $5 million will reimburse the attorney general’s office for legal fees.

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5 Responses to “Florida Legislature Should Not Raid Foreclosure Settlement Money, Nor Should it be Used to Foreclose Faster”
  1. Bobbi Swann says:

    @ Rob – read the above post at the Miami Herald. Reminds me of the coffee commercial from years past with the tag “Chock Full of Nuts”! That describes pretty much the entire state of Floriduh, but more so those counties in south Floriduh. I feel so sorry for folks down there with the corruption so high in the courts. The settlement, the foreclosure audit program and now this new settlement….all a sham! Nothing to help the defrauded homeowners. Only to help the facilitators and Bondi is one of them. I wonder if the citizens of Floriduh will ever wake up or for that matter the entire citizens of the USA….???

    • mrs pride says:

      i agree! al these republicans are doing is getting a paycheck they don’t take their jobs seriously as long as they have bread to eat and a roof over their heads…

  2. Kim Wilson says:

    This is what happens when clueless people get control of money. This money should not be going to first time home buyers. This money should be going to the victims only. Not irrelevant people to help the state with excess housing supply so they look better. JP Morgan foreclosed on me when they did not own the loan. I could not file bankruptcy because I could not figure out who owned my loan to bankrupt them. So, I found a short sale buyer as an only option and the bank put me in a payment plan until I am over 100 years old for the unpaid balance. Almost every number given to the closing agent was grossly overstated as documented. Then I was told by the Florida Attorney Generals office that I do not qualify for any of the money because I did a short sale. I do not qualify as being harmed but they are going to use the money from my harm to help first time home buyers get in a home that were never harmed. This is worse then what the banks did to me. Florida is such a train wreck!

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