Seven months after Colorado learned it was to get nearly $51.2 million from the multistate mortgage settlement deal with the country’s five largest banks, officials announced Thursday it has been divvied up.
The bulk of Colorado’s cash sliver of the — $24 million — went toward supplemental loan-modification programs, Attorney General John Suthers and Gov. John Hickenlooper declared.
The rest went to six other areas of homeowner relief and foreclosure-prevention programming, including the statewide foreclosure hotline where troubled homeowners can call for information and assistance.
“Seven months into the settlement process, Colorado is a great example of government working together to find creative solutions to the housing crisis,” Suthers said in a statement.
, but that was modified a month later to $51.17 million.
The state received much more than just cash. In total, Coloradans were to get $204.6 million in relief, including $46.3 million worth of refinancing benefits for underwater borrowers, $32.49 million in payments to homeowners who lost their homes to foreclosure between 2008 and 2011, and $73.3 million for reductions in mortgage loan principals.
