Houston City Controller Annise Parker applauds Mayor White's decision to withdraw his proposal to use $444,000 in tax dollars to help first-time homebuyers pay off debts and improve their credit scores.  “It is not the city's responsibility to help those with credit problems and it does not help the region's overall economic problems” said Controller Parker.  “Any additional funds available to the city should be used to put people to work and stay in their homes.”

The proposal would have appropriated $444,000 for grants of up to $3,000 to individuals who are currently unable to qualify for mortgages through city's homebuyer assistance program because of low credit scores.  “If we have learned anything from the current financial crisis, it is that not everyone is ready to be a homeowner,” she said.  “If people cannot manage their credit cards or other debts, they can't manage a mortgage.  This is not what I want my tax dollars spent on.”

Controller Parker advocates using additional dollars to fully fund the emergency home repair program.  “Aside from safer housing that would allow our seniors to stay in their homes, this option would provide jobs and return dollars to the local economy,” the controller said.  “That needs to be our emphasis in these tough economic times.”

###