Scott Walker Will Not Use Foreclosure Settlement Funds for Homeowners (For 2/12/12)

Wisconsin Governor Scott Walker will not use his State's allocated funds from the February 9th national foreclosure settlement of $26 billion to to help homeowners owing more than their home's value on fraudulent mortgages. The settlement is a penalty that mortgage lenders will pay for fraudulent practices. Wisconsin will receive $140 million, with $31.6 million going directly to Wisconsin State Government, which will use $25.6 million of it to balance its budget and the remainder to be determined later. Walker previously criticized this practice of using these one-time funds to balance his State's budget. He also said his controversial budget repair bill passed last year to bust unions was the key to the State's budget problems. http://thinkprogress.org/economy/2012/02/10/422744/walker-settlement-budget/