New Jersey Governor Is Latest To Divert Foreclosure Settlement Aid Away From Needy Homeowners

Several states across the country, from Vermont to Wisconsin to California, have been taking some of the money they received from the foreclosure fraud settlement signed with the nation’s biggest banks and diverting it away from its intended purpose of providing relief to desperate homeowners. According to ProPublica, the total amount of money taken from the hands of needy homeowners is close to $1 billion.  Now, housing advocates are alleging that New Jersey Gov. Chris Christie (R) is doing the same thing, diverting $75 million meant to help homeowners into the Garden State’s general fund.  Several governors, the first of whom was Wisconsin Gov. Scott Walker (R), have used the settlement money to simply bolster their general funds, patching over budget problems that they’ve created. Progressives in New Jersey have been concerned that Christie would follow suit, and those concerns now seem to be justified.

Think Progress


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