Why Florida Is Sitting On $300 Million Meant To Help Homeowners

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It remains a mystery why state officials determined that a bunch of foreclosure files sitting on the court dockets amounted to an emergency. If banks wanted to pursue their foreclosures they were free to do so. And Florida judges are empowered to dismiss cases if the parties don’t take action for a year.

by Cora Currier, ProPublica. Florida has the highest percentage of home loans in foreclosure in the country. So why is more than $300 million that could help homeowners sitting unused? Florida was awarded those millions in February as part of the $25 billion national settlement between five of country’s biggest banks and 49 states and the District of Columbia.