Congresswoman Tammy Baldwin (D-WI) recently blasted Wisconsin Governor Scott Walker for taking money intended for victims of mortgage fraud and using it for his state budget deficit. “The actions of the Governor are outrageous,” said Baldwin. “He is taking money intended for victims of mortgage fraud to use for his own purposes,” Baldwin said.
Baldwin said that she will fight the Governor’s efforts and that this action must be stopped. Thousands of Wisconsin families lost their homes and others face foreclosure as a result of fraud and abuse by Wall Street mortgage banks. “This settlement is meant to help make troubled homeowners whole, not make Walker’s state budget whole,” Baldwin said.
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| Congresswoman Tammy Baldwin |
Baldwin said that she will fight the Governor’s efforts and that this action must be stopped. Thousands of Wisconsin families lost their homes and others face foreclosure as a result of fraud and abuse by Wall Street mortgage banks. “This settlement is meant to help make troubled homeowners whole, not make Walker’s state budget whole,” Baldwin said.
Congresswoman Tammy Baldwin subsequently sent a letter to both Wisconsin Governor Scott Walker and Attorney General J.B. Van Hollen expressing her strong objection to their plan to deflect money intended to provide relief to victims of mortgage fraud and use it to help meet a state budget shortfall.
Baldwin reminded the Governor and Attorney General that thousands of Wisconsin families lost their homes, and others face foreclosure, as a result of fraud and abuse by Wall Street mortgage banks. She wrote, “It is shocking and disappointing that you would divert this money from homeowners who desperately need assistance.”
As a result of the $25 billion settlement announced between the federal government, 49 states and the Distritct of Columbia, and the nation’s five largest mortgage servicers, Wisconsin will receive an estimated $140 million intended to provide direct relief for affected homeowners, refinancing benefits for eligible borrowers, and remediation programs and services. Rather than use all the funds to help assist defrauded homeowners and prosecute wrongdoers, Walker and Van Hollen announced they would direct $25.6 million to help balance the state budget. Baldwin has called their plan “outrageous.”
In her letter, Baldwin called on Walker and Van Hollen to, “…do right by Wisconsin homeowners and use the mortgage settlement funding for its intended purposes: to provide assistance to mortgage fraud victims, strengthen foreclosure mediation programs, and further investigate mortgage fraud.
Baldwin reminded the Governor and Attorney General that thousands of Wisconsin families lost their homes, and others face foreclosure, as a result of fraud and abuse by Wall Street mortgage banks. She wrote, “It is shocking and disappointing that you would divert this money from homeowners who desperately need assistance.”
As a result of the $25 billion settlement announced between the federal government, 49 states and the Distritct of Columbia, and the nation’s five largest mortgage servicers, Wisconsin will receive an estimated $140 million intended to provide direct relief for affected homeowners, refinancing benefits for eligible borrowers, and remediation programs and services. Rather than use all the funds to help assist defrauded homeowners and prosecute wrongdoers, Walker and Van Hollen announced they would direct $25.6 million to help balance the state budget. Baldwin has called their plan “outrageous.”
In her letter, Baldwin called on Walker and Van Hollen to, “…do right by Wisconsin homeowners and use the mortgage settlement funding for its intended purposes: to provide assistance to mortgage fraud victims, strengthen foreclosure mediation programs, and further investigate mortgage fraud.
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