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Updated Nov 26, 2012 - 6:38 am

Arizona court weighs challenge to use of settlement

PHOENIX — An appellate court panel is considering a court case involving
Arizona’s use of $50 million from a multistate foreclosure settlement to help
balance the state budget.

Critics of the Legislature’s decision to put $50 million into the general state
budget wanted all of the money to be used for programs and services for
borrowers and troubled homeowners.

Housing advocates are appealing a Maricopa County Superior Court judge’s ruling
in favor of the state, and a three-judge panel is scheduled to hear arguments
Monday.

The judge said the Legislature decides how to spend the state’s money. Housing
advocates contend that the attorney general could decide how the money is used.

Some of the settlement money paid the state by lenders is being used for
programs and services for borrowers.

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