Fla. Senate Alters Plan For $200M Mortgage Settlement Funds

Law360, Miami (April 25, 2013, 9:01 PM EDT) -- One step away from a final vote, the Florida Senate on Thursday amended a bill to allocate the remaining $200 million of the state's share of a $25 billion national settlement with mortgage servicers, with most going to existing state affordable housing programs and to bolster the court system to ease the foreclosure backlog.

The upper chamber approved a delete-all amendment from Sen. Andy Gardiner, R-Orlando, that adjusted the distribution of the settlement funds. The plan still sends the majority of the funds to the Florida...
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