Mortgage settlement money mostly going to help Alabama General Fund

More than three quarters of the money that Alabama is receiving from a national court settlement over alleged foreclosure wrongdoing by banks will, in effect, be used to prop up Alabama's General Fund budget, according to state leaders. Advocates for homeowners have questioned whether it truly helps the people who were hut by the mortgage practices that spawned the settlement.

"This is yet another example of the impossible bind that our leaders have left us in, in refusing to seek new revenue for the General Fund," said ACPP communications director Jim Carnes. "We're forced to use Band-Aids once again, one-time money once again, to patch the holes in the General Fund."

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