Oak Creek Mayor Adds Voice To Foreclosure Settlement Debate
Foeckler joins Barrett and Dickert in calling for reversal of mortgage settlement decision.
Oak Creek Mayor Al Foeckler appeared at a press conference Wednesday with the mayors of Milwaukee and Racine urging Gov. Scott Walker to reverse his decision regarding mortgage settlement money, according to a report from Fox 6.
State officials are using some of the $140 million that Wisconsin got as part of a federal settlement to balance the state budget. Foeckler and Mayors Tom Barrett and John Dickert say that violates the spirit of the settlement and won't help the foreclosure problem.
The settlement is designed to help homeowners who are underwater by relieving some of the principal of their loan.
Walker and Attorney General J.B. Van Hollen argue that using some of the money to offset the state budget shortfall will help keep them from raising taxes and improve residents' buying power.
Oak Creek has seen 226 foreclosures since 2007, according to the story.