State Capitol News
9:35 am
Thu December 5, 2013

Arizona Population Growth Equals Economic Recovery


A panel of economists said Wednesday they believe the state’s economic future appears to be a chicken-and-egg situation. Arizona Public Radio’s Howard Fischer explains.

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State Capitol News
12:59 pm
Mon November 26, 2012

Attorney Asks Court to Block Grab of Mortgage Settlement Funds

An attorney for housing rights groups and distressed homeowners asked the state Court of Appeals today to block lawmakers from taking some funds he said are earmarked for them.

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State Capitol News
9:56 am
Thu March 15, 2012

Bankers Beat Back Efforts at Mortgage Relief in AZ

About half of all Arizona mortgages are under water, meaning owners owe more than the property is worth. This proposal was aimed at helping those who continue to make payments rather than simply walk away. It is a bit complex, involving the state using its power of eminent domain to acquire the property, paying the bank the current market value with money from investors who buy state bonds, and giving the lender a no-interest promissory note for the balance. That buys the homeowner some time for the market to recover.

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State Capitol News
1:54 pm
Thu February 9, 2012

National Mortgage Fraud Setttlement Brings in More than $1Billion to AZ

Attorney General Tom Horne explains how Arizonans will benefit from the state's $1.6 billion share of a nationwide settlement of mortgage fraud charges against five major banks. With him is Carolyn Matthews who represented Arizona in the negotiations.
Howard Fischer Capitol Media Services

Arizonans will divide up about $1.6 billion as the state's share of a nationwide mortgage fraud settlement with five major lenders. 

The $26 billion national settlement absolves the five claims that banks acted improperly and illegally in dealing with homeowners who sought mortgage relief. The biggest chunk for Arizona -- about $1.3 billion -- will go to directly helping those who are underwater on their mortgages, owing more than the property is worth.

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