Joined by Louisville Mayor Greg Fischer and other housing advocates, Kentucky Attorney General Jack Conway announced Monday that his office is allocating $3.2 million to the city to deal with vacant and abandoned properties.
The funding comes from a $19.2 million pot the state got from the National Mortgage Settlement, which was the result of a lawsuit filed by several states against five of the country’s top banks. Across the country, states are using the money to provide legal assistance to homeowners facing foreclosure, redevelop foreclosed properties and reduce the blight created by vacant properties.
Conway says his office fought with state lawmakers during the legislative session to push that the settlement money be used for these sorts of programs and initiatives
"I am proud to say that the money I secured on behalf of Kentucky will be going to help people and communities who were harmed by the mortgage foreclosure crisis," says Conway. "This settlement will provide second chances for people who’ve lost their homes, help revitalize properties that have been abandoned, and develop affordable housing in communities throughout our Commonwealth."
