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Attorney General Reallocates $23 Million to Affordable Housing From Mortgage Settlement Funds

Thursday, January 30, 2014  
Posted by: Sarah Cole
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On Wednesday, Jan. 29, the Colorado Attorney General’s Office announced the $23 million from the original 2012 mortgage settlement would be reallocated to the Colorado Housing Investment Fund (CHIF).  The $23 million will be transferred from the foreclosure mitigation fund.  At the time of the settlement, Colorado was in the midst of the nationwide foreclosure crisis.  However, with the housing market rebound over the past 18 months, the number of foreclosures has dropped dramatically and thus only a fraction of the foreclosure dollars have actually been used.  Recognizing the need for more housing development and the documented success of the current CHIF, the Attorney General will be reallocating the foreclosure dollars in to the CHIF.

Housing Colorado was a leading advocate in the establishment of the original CHIF in 2012, securing $13.3 million and providing critical funding to affordable housing projects throughout the state.  Housing Colorado will keep members informed of new funding opportunities that will be available through this new $23 million allocation in the coming months. 
 
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