Mississippi has new foreclosure prevention plan | News

(WMC-TV) - A local attorney general has some good news for the State of Mississippi.

Attorney General Jim Hood announced today that his office has created the “Mississippi Foreclosure Prevention Consortium.”

This consortium was created for those in Mississippi who are struggling due to foreclosure. This plan was formed through funding provided under the National Mortgage Settlement.

As a part of the settlement, the state received over $13 million to be used for purposes intended to avoid preventable foreclosures, to improve the effects of the foreclosure crisis, to enhance law enforcement efforts to prevent and prosecute financial fraud and to compensate the state for costs resulting from the alleged unlawful conduct of the subject servicers. 

Of the $13 million, some was used to pay for the creation of the consortium and the remaining money was sent to the State General Fund for use by the Mississippi legislature. 

For assistance through the Mississippi Foreclosure Prevention Consortium, you can call the hotline at 1-866-530-9572.

Copyright 2012 WMC-TV. All rights reserved.