Newspaper article The Record (Bergen County, NJ)

N.J. Getting $69M More for Struggling Homeowners

Newspaper article The Record (Bergen County, NJ)

N.J. Getting $69M More for Struggling Homeowners

Article excerpt

More federal aid is on the way for New Jersey homeowners who struggle to make their mortgage payments. Sens. Bob Menendez and Cory Booker said Wednesday that $69.2 million has been awarded to the state from the U.S. Treasury's Hardest Hit Fund to help homeowners avoid foreclosure.

While the worst of the foreclosure crisis has passed nationwide, New Jersey continues to face some of the nation's highest levels of housing distress because foreclosures were delayed in the state while the mortgage industry answered allegations of wrongdoing. Now, the industry is dealing with a backlog of troubled properties.

The Hardest Hit Fund was created in 2010 to provide $7.6 billion in aid to 18 states, including New Jersey, that suffered the most in the housing crash and economic downturn. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.