Mortgage Settlement Bill Will Have Positive Impact In Brevard
By Bobby Freeman // June 4, 2013
Scott Signs SB 1852, allocates $200 million
BREVARD COUNTY, FLORIDA — Florida Governor Rick Scott signed SB 1852 into law today.
The bill, created by Sen. Andy Gardiner R-Orlando, came out of the 2013 Florida Legislature and outlines the way Florida will allocate $200 million it received from the large national mortgage settlement.
The money will go to several state entities for various housing and foreclosure related programs and services. Additionally, this funding will help those who have been harmed by foreclosures in Florida.
“As Florida’s housing market continues to improve, I applaud the work of Attorney General Pam Bondi and the Florida Legislature for helping Floridians,” said Governor Rick Scott.
“This settlement will provide important relief to Florida homeowners and enable our state to get its fair share of the relief being provided across the country. Funding in this legislation will also help various affordable housing initiatives and will help make affordable housing more available to Florida families. We are working to ensure that Florida’s economy continues to grow, and Florida’s housing market continues to improve.”
HOMEOWNERS RECEIVE $25 BILLION
Nationwide, states and homeowners received $25 billion from the February 2012 state and federal settlement with five banks that allegedly foreclosed on homes without a notary public involved and without fully confirming the facts.
“This is a huge win for Florida’s struggling families,” said Marion Briggs, chair of Florida Realtors Attainable/Workforce Housing Subcommittee.
“We made this bill a top priority in 2013, and I’d like to thank the Florida Legislature, Attorney General Pam Bondi and Governor Scott for their support. I’m particularly pleased that aid will go to the SHIP program, most of which will repair existing homes and help with downpayments. Overall, these funds address diversified segments of the population and will benefit many Floridians in need of assistance.”
These funds will go a long way in revitalizing communities impacted by foreclosures, providing additional options for affordable housing and helping Florida’s housing market rebound stronger than ever.
I applaud our Governor for signing this very important legislation. This will have a positive impact to many Florida homeowners especially here in Brevard County.
The bill is effective as soon as the mortgage settlement money is deposited in Florida’s general revenue fund.
ABOUT THE AUTHOR
Bobby Freeman, a life-time resident of Brevard County, has been a top Realtor in the area for two decades. In his first year as an agent, Freeman received a Rising Star award from his Brokers. Since then he has achieved numerous sales awards and has recently been presented with the prestigious RE/MAX Hall of Fame Award.
Freeman, Jennifer McCoy and Nikki McCoy Freeman are family partners for RE/MAX Elite’s McCoy-Freeman Group. Together they have more than 30 years of extensive experience in all aspects of the real estate industry and have sold over $180 million. Among McCoy-Freeman Group’s achievement are RE/MAX Hall of Fame, RE/MAX 100% Club, Certified Distressed Property Experts (CDPE), Accredited Buyer’s Representative (ABR) and voted Best Realtor in Brevard County. The group has been featured in many news publications including CNN Money Magazine, CNNMoney.com, WFTV 9 ABC News, Coastal Condo Living, & Hot Retirement Towns Magazine and SpaceCoastDaily.com.