More than 2,500 homeowners receive assistance through Foreclosure Mediation Program
ATLANTIC CITY, NJ – September 22, 2009 – (RealEstateRama) — Governor Jon S. Corzine today announced that since 2006, the State has created, preserved, or rehabilitated 30,284 affordable housing units for New Jersey’s working families. These include rental and for-sale homes, preserved and rehabilitated housing, and first time home-buyer mortgages. The Governor made the announcement while kicking off the 2009 Governor’s Conference on Housing and Community Development.
The new figures represent an increase of more than 16 percent in housing units from 2002 to 2005 and are more than double the 14,709 units created from 1998 to 2001.
“For years, we have collectively faced the challenge of assisting New Jersey’s working families in their quest to realize the American dream of home ownership and I am proud that our efforts are making a difference,” Governor Corzine said. “More than 30,000 individuals and families have achieved safe, secure homes over the past three years. Those facing significant personal challenges can now have a home while hundreds of families, in the face of foreclosure, have been able to stay in their homes.”
In addition, the State has conducted nearly 200 foreclosure-prevention events, serving more than 15,500 homeowners. Through the state’s Foreclosure Mediation Program, more than 2,500 homeowners have received counseling assistance. Of those cases, 1,060 cases have been completed with 50 percent settled, and 70 percent of those cases resulting in families keeping their home.
Governor Corzine later welcomed U.S. Department of Housing and Urban Development Secretary Shaun Donovan to the conference, calling him “an ally and a partner in our efforts to provide housing for New Jersey’s workers, seniors, and low and moderate income families.”
The Governor was also joined by Acting Commissioner Charles A. Richman of New Jersey’s Department of Community Affairs (DCA) and Executive Director Marge Della Vecchia of New Jersey’s Housing & Mortgage Finance Agency (HMFA) for the two-day conference focusing on how to overcome economic challenges and achieve success in “Preserving Communities, Providing Housing, and Promoting Opportunities.”
“The societal cost of not addressing this critical issue is substantial because it tears families apart,” added the Governor. “I know that families in our state are facing the hardship of foreclosure during this global economic crisis, and we’ll continue to work overtime to help them stay in their homes.”
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For More Information:
Robert Corrales
Phone: 609-777-2600
