Thanks to Carrie for pointing this one out!
Remember that big settlement Banks made to the states to help home
owners under water on their mortgages?
The largest multistate settlement since the Tobacco Settlement in 1998.
http://www.nationalmortgagesettlement.com/ The funds are not going to home owners… Or foreclosure prevention…
Or borrower education… Or Fraud investigation.
Many states are using the money to cover budget shortfalls.
http://www.nytimes.com/2012/05/16/business/states-diverting-mortgage-settleme… Barry Bevis, Broker/Realtor