U.S. Senator Bob Menendez (D-N.J.), a senior member of both the Senate Finance and Banking Committees, today brought Sylvia Oliver, a constituent from Scotch Plains, N.J., to a public forum hosted by Senate Democrats to provide context on Steve Mnuchin’s character and business practices. Prior to being President-Elect Trump’s nominee to be Secretary of Treasury, Mr. Mnuchin led the bank OneWest in the aftermath of the 2008 financial crisis, during which time the bank foreclosed on thousands of families across the country and threw them out of their homes.
With the continuing prevalence of mortgage foreclosure problems, legislation putting common sense safeguards in place to protect homeowners was passed out of the Assembly Financial Institutions and Insurance Committee Thursday.
The New Jersey Senate unanimously voted in favor of legislation that would provide a temporary protection against foreclosure for homeowners who suffered damage during Superstorm Sandy. Previously passed by the Assembly, the bill now heads to Governor Christie to be signed in to law. On the bill, Housing and Community Development Network of New Jersey President and Chief Executive Officer Staci Berger issued the following statement
New Jersey Attorney General, Division of Consumer Affairs, and Department of Banking and Insurance...
Attorney General Christopher S. Porrino, the Division of Consumer Affairs, and the Department of Banking and Insurance have filed an action against three North Jersey individuals and the companies they operated, for allegedly defrauding financially strapped consumers who paid for mortgage foreclosure rescue services to save their homes from foreclosure
Congressman Frank Pallone, Jr. (NJ-06) announced more than $5 million in grants to the Bayshore Regional Sewerage Authority (BRSA) from the U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA) to assist in the recovery from Hurricane Sandy. The grants will help repair BRSA’s main pumping station and Dewatering/Incineration building
U.S. Senator Bob Menendez today unveiled federal legislation that takes aim at zombie homes that plague New Jersey communities and drive down property values. New Jersey had the highest foreclosure rate in the nation in 2015 with over 35,000 filings and a recent report found the state has the most vacant zombie foreclosures in the nation with over 4,000.
U.S. Senators Bob Menendez and Cory Booker today announced the awarding of an additional $45,354,517 in Phase 2 funding from the U.S. Treasury’s Hardest Hit Fund (HHF) to assist financially-stressed New Jersey homeowners with mortgage modifications and refinancing to avert foreclosure and stay in their homes. New Jersey, which had the nation’s highest foreclosure rate in 2015, was awarded $69,231,301 in Phase 1 funding in February, for a total of $114,585,818 during this fifth and final round of allocations.
Congressman Frank Pallone, Jr. (NJ-06) applauded the allocation of more than $45 million through the Hardest Hit Fund to the state of New Jersey to help stabilize the housing market and prevent foreclosures. The Hardest Hit Fund was created in 2010 to provide targeted assistance to 18 states and the District of Columbia deemed hardest hit by the economic and housing market downturn.
U.S. Senators Robert Menendez and Cory Booker today announced the awarding of $69,231,301 from the U.S. Treasury’s Hardest Hit Fund (HHF) to assist financially-stressed New Jersey homeowners with mortgage modifications and refinancing to avert foreclosure and stay in their homes. In 2015, New Jersey had the nation’s highest foreclosure rate.
U.S. Senator Bob Menendez today held a roundtable discussion with a wide-range of stakeholders in his Newark office to develop solutions to tackle New Jersey’s foreclosure crisis. New Jersey’s foreclosure rate outpaces every other state and is two and one-half times the national rate.
Following Governor Christie’s State of the State speech where he lauded New Jersey’s status on foreclosures, Network President and Chief Executive Officer Staci Berger issued the following statement
U.S. Senators Bob Menendez and Cory Booker (both D-NJ) today announced $1.27 million in federal grants from the U.S. Department of Housing and Urban Development's (HUD) Housing Counseling Program to 13 local agencies throughout New Jersey.
As New Jersey continues to lead the nation in foreclosure rates – and specifically in “zombie” foreclosures – U.S. Senator Robert Menendez (D-NJ), Ranking Member of the Senate Subcommittee on Housing, Transportation and Community Development today introduced the Preserving American Homeownership Act, to help homeowners who are underwater on their mortgages remain in their homes. According to RealtyTrac, one out of every 594 New Jersey homes is in foreclosure.
U.S. Senator Bob Menendez commended actions announced today by the Department of Housing and Urban Development’s Federal Housing Administration (FHA) to strengthen the Distressed Asset Stabilization Program (DASP) in order to help struggling homeowners avoid foreclosure and stay in their homes, and assist communities suffering with high concentrations of foreclosures and distressed mortgages.
New Jersey Housing and Mortgage Finance Agency Receives $1.4 Million to Support Foreclosure Prevention...
The New Jersey Housing and Mortgage Finance Agency (NJHMFA) today announced that it has received $1.4 million to support New Jersey’s foreclosure prevention counseling efforts through the National Foreclosure Mitigation Counseling Program (NFMC). The much-needed funding will enable NJHMFA and its housing counseling partners to provide more foreclosure counseling to area homeowners in danger of foreclosure.
Today, U.S. Senators Robert Menendez and Cory Booker announced $1,483,816 in federal funding for the National Foreclosure Mitigation Counseling (NFMC) Program of NeighborWorks America to support housing counseling for New Jersey families and individuals facing the threat of foreclosure and unaffordable mortgage debt burdens.
This funding will empower families with the tools they need to prevent the devastating loss of their homes, while also strengthening our communities and bringing stability to our housing market.
Acting Attorney General Announces $6.25 Million Settlement Resolving Consumer Fraud Act Allegations Against PHH...
TRENTON - December 3, 2013 - (RealEstateRama) -- Acting Attorney General John J. Hoffman and Division of Law Director Christopher S. Porrino announced today that the State has entered into a $6.25 million settlement with PHH Mortgage Corporation that resolves allegations the company misled financially struggling homeowners who sought loan modifications or other help to avoid mortgage delinquency or foreclosure
Christie Administration Launches $10 Million Predevelopment Loan Fund For Affordable Rental Housing To Revitalize...
Trenton, NJ - June 28, 2013 - (RealEstateRama) -- The New Jersey Department of Community Affairs (DCA) and its affiliate the New Jersey Redevelopment Authority (NJRA) today announced the creation of the Predevelopment Fund for Affordable Rental Housing. The new initiative, supported through federal Community Development Block Grant (CDBG) Disaster Recovery funds, will provide financing to help nonprofit developers revitalize Sandy-affected areas by covering the predevelopment costs associated with the redevelopment of properties that are currently considered unsafe, underutilized, or in foreclosure.
TRENTON, N.J. - May 21, 2013 - (RealEstateRama) -- New Jersey Department of Community Affairs (DCA) Commissioner Richard E. Constable, III, Chair of the New Jersey Housing Mortgage and Financing Agency (HMFA) today announced that HMFA has received $1.1 million to support New Jersey’s foreclosure prevention counseling efforts. The funding boost will enable HMFA to provide more foreclosure counseling than ever before to New Jersey homeowners in danger of foreclosure