Attorney General Bondi’s Statement on Appropriation of $200 Million of the National Mortgage Settlement Funds
TALLAHASSEE, Fla. –Attorney General Pam Bondi released the following statement on the passage of Senate Bill 1852 regarding funding from the national mortgage settlement.
“I entered the national mortgage settlement to obtain more than $8 billion in relief in order to ameliorate the effects of the foreclosure crisis and to help homeowners. I am grateful to Senate President Gaetz, House Speaker Weatherford and the entire Legislature for supporting the appropriation of $200 million of these settlement funds in accordance with the agreement for housing-related purposes.”
And where did that money go?
SB 1852 appropriates $200,080,474 to several state entities for various housing and foreclosure-related programs and services, contingent upon such funds being deposited into the state treasury from the National Mortgage Settlement.
Funds are appropriated, with specific restrictions and requirements, as follows:
- $70 million for the State Housing Initiatives Partnership (SHIP) program;
- $65 million for the State Apartment Incentive Loan Program (SAIL);
- $10 million for housing for homeless persons;
- $40 million for the State Courts System for the foreclosure cases backlog;
- $10 million for legal aid services for low and moderate-income homeowners facing foreclosure;
- $2 million for a consumer awareness promotional campaign; and
- $3 million for administrative costs.