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Some Groups Upset With Governor Brown's Plan For Housing Settlement Funds

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(Sacramento, CA)
Tuesday, June 12, 2012

Governor Brown wants to use the 410 million dollars California will get from the settlement over the next couple of years.  Most of it would go to help pay down bond debt related to low-income housing.  But Pedro Morillas with the California Public Interest Research Group says the money should be spent to help struggling homeowners:

Morillas: "The long-term benefit for the state is just much larger if we actually use this money to keep people in their homes as opposed to a stop-gap for just this year's budget."

Attorney General Kamala Harris has said the funds should be used to help Californians stay in their homes.  But the state's non-partisan legislative analyst says the Governor's proposal makes sense, given the state's multi-billion dollar deficit.  Assembly Democrats have also called for the settlement money to be used.
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