Momentum Growing to Use AG Settlement Funds to Jumpstart HEMAP and Provide Funding for Housing Assistance (via Housing Trust Fund)

The Attorneys General from most of the states including Pennsylvania have reached an agreement with five large banks about abusive and illegal practices. This is being called the “AG settlement.” The result is that people who were victimized by these practices may have a chance to stay in their homes, the banks will have to change their ways and the states will get some money. (Read summary of the AG Settlement)

Pennsylvania is on track to get about $68 million dollars for HOUSING - foreclosure prevention and mitigation, housing counseling, blight created by foreclosure, etc. (It’s a little up in the air since the final agreement details are not yet available, but the essence is that the money is for HOUSING.)

You knew it wasn’t going to be that easy. The decision by the PA Attorney General and the Governor about where to put the money has not yet been made. The Housing Alliance strongly believes this money should be used as intended – FOR HOUSING.

There has been a great deal of media coverage of this issue. Click HERE to view 20+ news articles related to HEMAP and the use of settlement funds for housing.

This is a GREAT opportunity. To help make it a reality, you can do two things:

1. Email the Attorney General and urge her to: Use the AG settlement money as it is intended, for HOUSING.  Also, request that the funds be sent to the Pennsylvania Housing Finance Agency (PHFA) where there is accountability and transparency, to use the bulk for HEMAP and the rest to the State HOUSING TRUST FUND. Here is the email address: MortgageForeclosureSettlement@attorneygeneral.gov.
    
2. Email  or call your senator TODAY and ask him or her to be a sponsor of Senator Gordner’s proposed legislation to use the AG’s settlement funds as intended: for HEMAP and housing sssistance at PHFA through the State HOUSING TRUST FUND. PHFA is well respected and we can be assured the funds will be put to good use. Not sure who to call? Use our TAKE ACTION CENTER and click 'Too Good to Pass Up'.