Mortgage Assistance

You might recall that Federal and state officials reached a $25 billion settlement with five big banks in February over abuses in their mortgage and foreclosure processes. A report from Enterprise Community Partners, a national affordable housing group, has found that many states are diverting the money to other purposes. The NY Times reported yesterday on how those monies are being spent. North Carolina received $60+ Million dollars...supposedly to be spent to provide mortgage relief to the affected homeowners. Well....guess what...along with a lot of other states this money isn't going where it would do the most good in NC. Some of it is being diverted into the General Fund to be pissed away..and a lot more (in NC) is going to be spent doing things that will likely accomplish nothing.