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Mortgage Money Misused?

April 8th, 2013 by flanews

Money from a foreclosure settlement with the nation’s largest banks may not be used to help people who’ve lost their homes. This session state lawmakers are deciding how to use 400 million dollars of the settlement money. State Senator Darren Soto says about half the money lawmakers are planning to distribute won’t help the victims of the foreclosure crisis.

“It’s going primarily to general affordable housing programs, domestic violence issue and other things which are worthy goals, but these aren’t the folks who were affected by foreclosure,” said Soto.

Soto is asking budget chiefs in the House and the Senate to take a second look at how the money is being allocated in their spending plans.

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