Monday, March 18, 2013

Arizona Appeals Court OKs mortgage-fund use

State officials acted legally when they took $50 million from a national mortgage-settlement fund and used it to help balance the state budget, the state Court of Appeals ruled Tuesday.
The opinion frees the state to put the money in the general fund once a stay on the money expires April 1.

However, attorney Tim Hogan of the Arizona Center for Law in the Public Interest, who brought the suit on behalf of housing advocates, said he is considering an appeal to the state Supreme Court.

Read more: Arizona Appeals Court OKs mortgage-fund use

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