ANYWHERE. ANY WAY. ANY HOW. ANY TIME. BAR NONE. A foreclosure information sharing site committed to saving homes from foreclosure and facing any challenge that comes our way with Wisdom, Intelligence, Gratitude, and Grace. Nothing is too Good to be true. Nothing is too much to ask of the Power of God that can do anything. No weapon formed against you shall prosper! Onward!
California Sued Over Diversion of Money From National Mortgage Settlement - NYTimes.com
Three nonprofit groups offering homeowner counseling sued Gov. Jerry Brown of California on Friday, demanding the state replace $369 million that had been earmarked to help troubled borrowers but was used instead to pay down the state’s debt.
As part of the $25 billion national mortgage servicing settlement two years ago, California and other states won a portion for home loan counseling and other educational services to help troubled homeowners avoid foreclosure. Kamala Harris, the state’s attorney general, secured the funds after long and tense negotiations with the banks.
But like many other states, California faced financial troubles and diverted funds from the settlement to other uses. In California’s case, it used the money to pay down debt issued by low-income-housing
Since then, the state’s financial standing has improved significantly; officials project a $4.2 billion surplus this year. Yet the governor has given no indication that he intends to replenish the counseling funds . . . . . .