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Updated: 10:26 AM Feb 10, 2012
Wisconsin to use part of mortgage settlement for budget
Attorney General J.B. Van Hollen's office made the decision in consultation with Gov. Scott Walker.
Posted: 9:13 AM Feb 10, 2012Email Address: news@weau.com |
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MADISON, Wis. (AP) -- Wisconsin will use about $26 million of its $140 million share of a national mortgage settlement to help plug a state budget hole.
Attorney General J.B. Van Hollen's office made the decision in consultation with Gov. Scott Walker.
The rest of Wisconsin's share will go toward helping homeowners who were affected by foreclosure abuses between 2008 and 2011.
Walker said at a news conference Thursday that just like communities and individuals affected by the foreclosure crisis, the state has also been harmed and the payment will go toward offsetting that.
But Milwaukee Mayor Tom Barrett told the Milwaukee Journal Sentinel in a story published Friday that none of the money should go toward the state budget.
A new projection shows the state faces a $143 million budget shortfall.
(Copyright 2012 by The Associated Press. All Rights Reserved.)
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