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Settlement boosts Indiana heating assistance program

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press
Monday, November 5, 2012 - 7:58 am

CROWN POINT — A multi-state settlement involving large banks is helping low-income Indiana residents keep the heat on as the state heads into the cold-weather months.

Indiana has directed about $29 million in funds from that settlement into its Energy Assistance Program. The program last year helped nearly 200,000 households pay utility bills with an average $420 benefit.

The money came from a settlement Indiana and 48 other states and the federal government entered into last year with the nation's five largest banks over foreclosure abuses and mortgage-servicing practices.

The Times of Munster reports Indiana's overall share of that settlement was about $145 million. About $100 million of that was directed to Hoosiers who lost their homes to foreclosure and to borrowers who seek to refinance their home loans.