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Budget panel signs off on $60 million in foreclosure settlement funds

Attorney General Pam Bondi initially wrangled with legislators over how to spend the settlement money. File photo by Ana Goni-Lessan.

The Joint Legislative Budget Commission approved $60 million in foreclosure settlement funds Thursday to aid the state’s troubled housing market.

Most of the money, $35 million, will go to the Florida Housing Finance Corp. to help eligible homeowners with down payment assistance. FHFC will receive another $10 million to be used in housing counseling. Another $5 million will go to federal government-approved nonprofit legal aid organizations to give counseling to homeowners threatened with foreclosure. The State Court System will receive $5 million to compensate retired judges and help move foreclosure cases through the system more swiftly.

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