How to spend Michigan's $97 million mortgage settlement - ABC 12 – WJRT – Flint, MI

How to spend Michigan's $97 million mortgage settlement

Posted: Updated:
MICHIGAN (WJRT) -

(07/19/12) - State lawmakers approved, Wednesday, a plan to spend $97 million from a mortgage settlement with the nation's five biggest banks.

Michigan is actually only one of 49 states involved in the $25 billion settlement. Residents are expected to see about $780 million in benefits. Most of that is allocated for victims of faulty foreclosures, but $97 million will be paid directly to the state.

Among the biggest slices of the pie: $25 for blight elimination across the state and $20 million to the Michigan State Housing Development Authority to pay for free foreclosure counseling.

You can read the full text of the bill HERE.

Anyone who went through a foreclosure with one of the participating banks from 2008-2011 can find out if they are eligible for cash payments by clicking HERE.



  • Local NewsMore>>

  • Teen involved in shooting outside Bay County Juvenile Center had troubled past

    Teen involved in shooting outside Bay County Juvenile Center had troubled past

    Friday, August 29 2014 6:20 PM EDT2014-08-29 22:20:06 GMT
    We are learning new details about the teenager who was involved in Thursday's shooting outside a Bay County juvenile home.
    We are learning new details about the teenager who was involved in Thursday's shooting outside a Bay County juvenile home.
  • Mid-Michigan students prepare for the first day of school

    Mid-Michigan students prepare for the first day of school

    Monday, September 1 2014 11:32 PM EDT2014-09-02 03:32:06 GMT
    (8/22/14)- Mid-Michigan students prepare for their first week of school.
    (8/22/14)- Mid-Michigan students prepare for their first week of school.
  • Good Samaritan replaces neighborhood mailboxes

    Good Samaritan replaces neighborhood mailboxes

    Monday, September 1 2014 6:36 PM EDT2014-09-01 22:36:07 GMT
    (9/1/14) A Flint Township man is known in his neighborhood as the guy to turn to if help is needed. Today he continued to lend a helping hand, this time in a unique way. Our Good Samaritan doesn't want his face or name on TV. He just wants to do what he can to make his neighborhood a better place to live.Last week, the Genesee County Road Commission came down the street to clean out the ditches. There's a problem with flooding in the area and the work needed to be done. Our hero moved a stand...
    (9/1/14) A Flint Township man is known in his neighborhood as the guy to turn to if help is needed. Today he continued to lend a helping hand, this time in a unique way. Our Good Samaritan doesn't want his face or name on TV. He just wants to do what he can to make his neighborhood a better place to live.Last week, the Genesee County Road Commission came down the street to clean out the ditches. There's a problem with flooding in the area and the work needed to be done. Our hero moved a stand...
Powered by WorldNow

abc12.com

ABC12 Main Station
810-233-3130

Mailing Address:
2302 Lapeer Road
Flint, Michigan 48503

Powered by 

WorldNow
All content © Copyright 2000 - 2014 WorldNow and WJRT. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.