Portion Of Colorado's Mortgage Settlement To Go For Affordable Housing

(Denver, CO) -- More money is going to help fund affordable housing in areas hit hard by wildfires and flooding. Colorado Attorney General John Suthers announced this week the state is reallocating 23-million-dollars to the cause. The funding is coming from the state's cut of the National Mortgage Settlement. Suthers says the improving housing market has created the opportunity to put more money elsewhere. He believes flooding and wildfires have created a crunch on the rental market statewide. Colorado received more than 51-million-dollars in the settlement with major banks over alleged foreclosure abuse.