South Carolina is not using part of the Mortgage Settlement money to help people losing their homes…
Deciding which category to put this blog into might be a little hard. Hmm. It is about the money from the Mortgage Settlement that South Carolina is getting being used for…attracting new businesses. Consider this quote from an article in GSA I just read:
The South Carolina Department of Commerce will have an additional $10 million to use in deal-closing negotiations with new businesses after the General Assembly voted to override Gov. Nikki Haley’s veto of the measure.
The money was from South Carolina’s $31 million share of a national mortgage settlement. Haley vetoed the appropriation, suggesting the money was meant to help people who lost their homes or were in danger of losing their homes.
Should we be mad?
Or is this a better use of the money?
I really do not know how I feel about this. Considering I just posted the bad news about rising unemployment numbers in South Carolina, there is no doubt we need more jobs.
Will $10 Million dollars create that many jobs?
On the other hand, would $10 Million do much to help home owners that were wrongly foreclosed upon? There credit has been shot, their lives turned upside down, the emotional and physical strain cannot be reversed. How can you put a price on a life ruined? How many dollars equals a family getting kicked out of their home?
And then there are those that were foreclosed upon because they are deadbeats. I would not want any money going to them. We all know there are people that always figure out how to work the system to their advantage.
This is a complicated situation with no easy solution. South Carolina did not suffer as many foreclosures as some other parts of the country. Yet there is no questioning that our real estate market has suffered. Maybe you or some of your friends, neighbors and family members have been hurt by foreclosure.
What do you think?