New housing solution for Lexington

Attorney General Jack Conway announced an influx of cash for the City of Lexington to be able to offer affordable housing options.

MGN Online

LEXINGTON, Ky. (WKYT) – Attorney General Jack Conway and Lexington Mayor Jim Gray announced Tuesday that more than $750,000 will be provided to Lexington organizations that help displaced families, prevent foreclosures and create affordable housing.

The Office of the Attorney General provided funds it recovered after settling a lawsuit with Lender Processing Services and two of its subsidiaries over allocations of what are known as "robo-signed" mortgage loan default servicing documents.

He says more than 65,000 Kentuckians lost their homes in foreclosure and now it's time to make it right.

"This money is going to be used to create and rehabilitate affordable housing," said Attorney General Jack Conway, with the Commonwealth of Kentucky.

Habitat for Humanity, the Salvation Army, the Hope Center and Community Action were some of the local agencies that received a portion of the money.

49 state attorneys general reached the historic $25 billion settlement with five of the nation's largest banks in 2012.

Kentucky received $58 million under the settlement.

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