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Public funds to pay for private debt
Houston aims to clear balances so some can buy homes
Houston taxpayers could start footing the bill to help first-time homebuyers pay off debts and improve their credit scores, under a proposal before City Council this week.
The “Credit Score Enhancement Program” will give up to $3,000 in grants to individuals who are trying to qualify for mortgages through the city’s homebuyers assistance program. City officials say some applicants fall short of eligibility by only 10 or 20 points on their credit scores, and paying off some debt balances can quickly improve their numbers.
The proposal has aroused critics who say the city should not use public funds to help people pay down car loans, credit card balances, or other debts — even if the slight credit bump would help them realize the dream of home- ownership.
Councilwoman Anne Clutterbuck called the program well intentioned but said it would go too far. “If this credit crisis has taught us anything, we need to focus on paying off our debts and saving more,” she said. “Using government money to help someone pay off their debts is not the same as asking them to pay off their debts themselves.”
www.chron.com/disp/story.mpl/metropolitan/6277344.html
I guess we're slowly going to start paying other peoples bills with our tax dollars. If Texas is considering this lack of responsibility, other states can't be to far behind. What's this called.... socialism. Maybe these people should RENT.
It may not pass, but to even consider using public funds ( taxpayers money), just baffles the heck out of me. This is just a hint of whats on the way. I just can't believe that any American would consider this option.
CB
Houston aims to clear balances so some can buy homes
Houston taxpayers could start footing the bill to help first-time homebuyers pay off debts and improve their credit scores, under a proposal before City Council this week.
The “Credit Score Enhancement Program” will give up to $3,000 in grants to individuals who are trying to qualify for mortgages through the city’s homebuyers assistance program. City officials say some applicants fall short of eligibility by only 10 or 20 points on their credit scores, and paying off some debt balances can quickly improve their numbers.
The proposal has aroused critics who say the city should not use public funds to help people pay down car loans, credit card balances, or other debts — even if the slight credit bump would help them realize the dream of home- ownership.
Councilwoman Anne Clutterbuck called the program well intentioned but said it would go too far. “If this credit crisis has taught us anything, we need to focus on paying off our debts and saving more,” she said. “Using government money to help someone pay off their debts is not the same as asking them to pay off their debts themselves.”
www.chron.com/disp/story.mpl/metropolitan/6277344.html
I guess we're slowly going to start paying other peoples bills with our tax dollars. If Texas is considering this lack of responsibility, other states can't be to far behind. What's this called.... socialism. Maybe these people should RENT.
It may not pass, but to even consider using public funds ( taxpayers money), just baffles the heck out of me. This is just a hint of whats on the way. I just can't believe that any American would consider this option.

CB