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Associated Press, Published February 09 2012

North Dakota gets $3M in foreclosure-abuse settlement

BISMARCK, N.D. — North Dakota will use its share of a $25 billion multistate settlement with five mortgage lenders to boost housing in the western oil patch.

Attorney General Wayne Stenehjem tells The Associated Press that North Dakota will get a direct payment of about $3 million. He says his plan is to develop a program with private industry to increase housing in oil country, particularly for newly hired law officers and emergency responders.

Housing is in short supply in western North Dakota because of the influx of people working and seeking work.

The multistate deal is over foreclosure abuses that occurred after the housing bubble burst. It also includes loan term modifications and other forms of assistance, but Stenehjem says North Dakota didn't suffer as much as most other states.

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