Our state successfully sued big banks because of their illegal or unethical treatment of homeowners struggling to make their mortgage payments. As a result, South Carolina received over $30 million from the national mortgage settlement to help struggling homeowners hurt by big  banks.

The General Assembly wrote language in the budget bill to use the mortgage settlement funds for other things not related to the mortgage settlement. Governor Haley vetoed this language, stating, “I consider it inappropriate to raid the proceeds of the National Mortgage Settlement in order to generate more resources for the {Department of Commerce’s} closing fund.” We agree with Governor Haley.

The SC Community Loan Fund supports using the mortgage settlement funds as intended:  to help struggling homeowners and individuals who have lost their homes as a result of these bad acts.

Help strike the language using the mortgage settlement funds for other things by asking your legislator to SUSTAIN Governor Haley’s Veto 67 of  Proviso 90.19 that directs the use of the Mortgage Settlement Funds.