Conservative
Type 40
- Thread starter
- #101
Isn't Walker trying to plug up his budget hole with funds that were awarded to Wisconsin as a resulted of a lawsuit against banks? And isn't that money suppose to go to the people holding mortgages that got screwed?
I mean..that might lead to some disgruntled people.
Gov. Scott Walker Pockets Money Intended For Wisconsin Foreclosure Victims To Make Up State Budget Shortfall
After successfully stripping Wisconsin state public employees of their collective bargaining rights, working to deny low income residents the right to vote, and attempting to fend off the damaging effects of the burgeoning illegal electioneering scandal that is enveloping his administration and threatens to suck the Governor himself into the vortex, Scott Walker has found a new project worthy of his time and intents.
Walker is directing the State of Wisconsin to keep a large chunk of the money from this weeks national settlement with five of the nations largest mortgage lenders money intended to help compensate those who were victims of the illegal mortgage practices that caused so many to lose their homes and to aid in the rebuilding of stricken neighborhoodsso that the states budget gap can be closed and Gov. Walker can head into his recall election able to claim that he has balanced the state budget.
Gov. Scott Walker Pockets Money Intended For Wisconsin Foreclosure Victims To Make Up State Budget Shortfall - Forbes
wow. Out of $140 million, he is directing the $31.6 million coming directly to the state to help close the deficit. 22%. Gee, how horrible.

Walker, Van Hollen: Chunk of mortgage settlement going to state budget - JSOnline
Walker and Van Hollen said the majority of the settlement amount earmarked to Wisconsin under a $25 billion proposed nationwide agreement announced Thursday still would go to aid consumers in Milwaukee and other communities struggling with the specter of home foreclosure.
But of a $31.6 million payment coming directly to the state government, most of that money - $25.6 million - will go to help close a budget shortfall revealed in newly released state projections. Van Hollen, whose office said he has the legal authority over the money, made the decision in consultation with Walker.
"Just like communities and individuals have been affected, the foreclosure crisis has had an effect on the state of Wisconsin, in terms of unemployment. . . . This will offset that damage done to the state of Wisconsin," Walker said.
"The overwhelming majority of that $140 million is going to go to Milwaukee, is going to be able to help homeowners who are in trouble in Milwaukee, reimbursing homeowners who were foreclosed upon and shouldn't have been, preventing or remediating blight and creating jobs," Van Hollen said.
"A big part of what we're trying to do is make the state whole for what all of its citizens have suffered. Even those who weren't foreclosed upon have suffered in property values, in an economic decline because of some of these practices."
Sounds like Walker is doing exactly what he is supposed to do with that $25.6 million.The Wisconsin cut of the proposed settlement includes:
Up to $60 million in benefits from loan term modifications and other direct relief for homeowners.
Approximately $17.2 million in uniform payments of up to $2,000 for eligible Wisconsin borrowers who lost their home to foreclosure from Jan. 1, 2008, through Dec. 31, 2011, and who sustained servicing abuses.
Approximately $31.3 million in refinancing benefits for eligible borrowers who are making payments but owe more than their home is worth.
Payment to the state of approximately $31.6 million that may be used for future law enforcement efforts, additional relief to borrowers, civil penalties, funding of foreclosure relief programs and compensation to the state for its losses from the crisis.
Apart from the $25.6 million going to the state budget, the state will allocate some additional settlement money to communities affected by the foreclosure crisis. That includes:
$750,000 to the Milwaukee Equity Investment fund to fight unemployment in the city through investments in businesses there.
$750,000 to a loan guarantee program for Milwaukee businesses.
$1 million for a statewide blighted-neighborhood grant program to help municipalities to demolish homes left vacant because of the crisis. Half of that money comes from the state Department of Financial Institutions to match the other half in settlement money.
In a written statement, Wyman Winston, the executive director of the Wisconsin Housing and Economic Development Authority, said funds directed to WHEDA by Walker and Van Hollen from the settlement would enable it "to spur up to $15 million of business investment in Milwaukee's industrial corridor."
"In addition, WHEDA will use a portion of these funds, combined with settlement funds contributed by the Department of Financial Institutions, to help smaller communities throughout the state improve distressed neighborhoods through demolition and development," Winston said.
The ASSumption by Walker haters that he is using all the money for the budget shortfall, and 'stealing' it from homeowners affected by the situation, is laughable at best, and pure partisan hackery at worst.