Tuesday, February 24, 2009

HOUSTON...WE HAVE A PROBLEM

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.
http://www.chron.com/disp/story.mpl/front/6277344.html

How stupid are we going to get before we get out of this economic downturn? Using tax dollars to pay people's credit card bills? I would take the person who hatched this idea and never let them hold public office or advise on public policy ever again.

Let people EARN their higher credit scores - do not give them the tools to get that score without making any personal sacrifices or readjustments in their spending and savings habits.