By Catherine Reagor and Ronald J. Hansen, The Republic | azcentral.com
More than $35 million held in a fund created to help Arizonans hurt by bad lending and foreclosure tactics remains unspent more than two years after a landmark mortgage settlement with major banks.
Arizona Attorney General Tom Horne has spent 28 percent, or more than $13 million, of the $49 million in National Mortgage Settlement money under his control, through late July. Spending has accelerated this summer, according to an Arizona Republic review.
In recent weeks, the office has committed to spending almost $7 million more of the available funds. But although millions of new dollars have been committed, it may take months for the funds to help consumers.
Related: Contrasting case: Horne gets BofA settlement funds out quickly
