By Howard Fischer and Bob Christie | Capitol Media Services
PHOENIX — Gov. Katie Hobbs asked lawmakers Monday to approve a new program she said will make home ownership more affordable for middle-income and rural homebuyers.
In her second State of the State address, Hobbs said she wants to expand down payment assistance and mortgage rate relief for families making 80% or less of an area median income. She said that figure for Phoenix would mean any family making $75,000 would qualify.
That proposal would require legislative approval.
More to the point, it also would require money. But gubernatorial staffers provided no details as to how much — and where they would find the cash in a year where revenues are running behind expenses to pay for any of that.
