Arizona court won't overturn use of settlement - FOX 10 News | fox10phoenix.com

Arizona court won't overturn use of settlement

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PHOENIX (AP) - An appellate court panel has upheld Arizona's use of part of 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 appealed a Maricopa County Superior Court judge's ruling in favor of the state, but an order Tuesday by a three-judge panel upholds the judge's ruling.

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

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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