Archives

NEWARK, NJ - August 3, 2011 - (RealEstateRama) -- Continuing the State’s on-going efforts to thwart fraudulent “mortgage loan modification” enterprises, Attorney General Paula T. Dow and the State Division of Consumer Affairs filed administrative actions against seven businesses for illegally offering mortgage modification services to homeowners in dire financial straits. State law requires that anyone providing these services in New Jersey be licensed as a Debt Adjuster by the Department of Banking and Insurance, or be otherwise authorized.

Edison, N.J. - August 3, 2011 - (RealEstateRama) -- The New Jersey Association of REALTORS® (NJAR®) Governmental Research Foundation (GRF) today released a report showing the economic costs and benefits associated with “green building” practices or techniques improving the energy efficiency of a home. The study, Costs and Benefits of Residential Energy Efficiency Improvements, was conducted for NJAR® GRF by the Rutgers Center for Green Building at the Edward J. Bloustein School of Planning and Public Policy at Rutgers University

JERSEY CITY, N.J. - August 3, 2011 - (RealEstateRama) -- New Jersey Department of Community Affairs (DCA) Commissioner Lori Grifa today joined State Senator Sandra B. Cunningham, Mayor Jerramiah T. Healy, and other officials at the ribbon cutting for 13 affordable housing units in Jersey City that received $1 million in Neighborhood Stabilization Program funds through the DCA. The grant is paid for with federal funds intended to stabilize neighborhoods hard hit by home foreclosures.

Trenton, NJ - July 21, 2011 - (RealEstateRama) -- Highlighting the direct relief provided to New Jersey seniors in his Fiscal Year 2012 Budget, Governor Chris Christie today met with senior Sultana Kizides at her home in Perth Amboy to have a conversation about how his budget maintains fiscal discipline while prioritizing and funding core priorities to assist New Jersey seniors

WASHINGTON, DC - July 20, 2011 - (RealEstateRama) -- In the wake of recent allegations that illegal foreclosure “robosigning” by banks is still rampant, U.S Senator Robert Menendez (D-NJ), Chairman of the Senate Subcommittee on Housing, Transportation, and Community Development, and nine additional Senators sent a letter today to the Office of the Comptroller of the Currency, the Federal Reserve, and the Federal Deposit Insurance Corporation urging the agencies to publicly release information regarding each mortgage servicer’s performance to prevent illegal foreclosure practices. An identical letter was sent by Rep.

TRENTON, NJ - July 18, 2011 - (RealEstateRama) -- Attorney General Paula T. Dow and Criminal Justice Director Stephen J. Taylor announced that a Paulsboro woman who formerly worked as a local administrator of the New Jersey Home Energy Assistance (HEA) Program was sentenced to state prison today for defrauding the program of more than $20,000 by filing false applications to obtain benefits. In addition, a second former local administrator of the program pleaded guilty today to stealing over $40,000 in program benefits through the submission of fraudulent benefit applications.

NEWARK, N.J. - July 15, 2011 - (RealEstateRama) -- New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony Marchetta today joined City of Newark Mayor Cory Booker and local officials to break ground on Baxter Park, an affordable apartment community to be located at 39-47 Sussex Avenue near Newark’s Broad Street Station District. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided construction and permanent mortgage financing in the amount of $16,350,000 for the project. Baxter Park also is expected to be awarded federal Low Income Housing Tax Credits, which will generate approximately $10.2 million in private equity.

MORRISTOWN, N.J - July 14, 2011 - (RealEstateRama) -- The wait is over for Morristown residents counting down the days until they can order their caffe lattes and mocha frappuccinos. Starbucks, the newest addition to the Shops on the Green, will hold a grand opening celebration on July 22 from 5 to 7 p.m. Everyone is invited to come enjoy live music, free specialty coffee drinks and complimentary pastries while mingling with local dignitaries and members of the Morristown business community.

WASHINGTON, DC - July 4, 2011 - (RealEstateRama) -- U.S. Rep. Bill Pascrell, Jr. (D-NJ-8) today joined other federal and City of Paterson officials in opening the Belmont Senior Apartments, which provide 85 units of affordable housing for seniors. The Congressman also announced a $425,491 grant from the U.S. Department of Housing and Urban Development for resident support services at the Belmont Senior Apartments and other affordable housing developments in the city.

TRENTON, NJ - June 30, 2011 - (RealEstateRama) -- Attorney General Paula T. Dow and Criminal Justice Director Stephen J. Taylor announced that the Division of Criminal Justice has obtained indictments charging three former administrators and a former shop foreman at the Passaic Valley Sewerage Commission with directing subordinate employees to complete repairs or improvements at the private homes of the administrators or people close to them while the subordinates were on duty for the PVSC.

WASHINGTON, DC - June 17, 2011 - (RealEstateRama) -- Today, a dozen U.S. Senators sent a letter to the Office of the Comptroller of the Currency (OCC) urging the agency to work with State Attorneys General, the U.S. Department of Justice (DOJ), and the U.S. Department of Housing and Urban Development (HUD) to hold mortgage servicers accountable for deficient servicing procedures and improperly foreclosing on homeowners and to develop a comprehensive solution to fix the broken foreclosure process.

TRENTON, NJ - June 16, 2011 - (RealEstateRama) -- Attorney General Paula T. Dow and Division of Criminal Justice Director Stephen J. Taylor announced that two Pennsylvania men and a construction company have been charged in a state grand jury indictment for their alleged roles in an insurance fraud scheme that targeted homes purportedly damaged by hail.

TRENTON, N.J. - June 16, 2011 - (RealEstateRama) -- New Jersey Department of Community Affairs (DCA) Commissioner Lori Grifa and New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony Marchetta today urged prospective homebuyers to take advantage of The Road Home New Jersey, a new consumer education tool that will help guide them in the home buying process

NEWARK, NJ - June 16, 2011 - (RealEstateRama) -- A Cape May County campground, accused of failing to tell mobile home owners it would take half the profit when their mobile home was resold, plus a 10 percent sales commission, has agreed to pay restitution to affected consumers, under terms of a settlement reached with the New Jersey Division of Consumer Affairs.

v

NEWARK, NJ - May 26, 2011 - (RealEstateRama) -- U.S. Housing and Urban Development Deputy Secretary Ron Sims today awarded $18.4 million to revitalize the Alexander Hamilton development in Paterson, NJ. The high and low-rises formerly on the site will be replaced with 201 townhouse rental and for-sale units, as well as 70 off-site rental units for seniors. Sims made the announcement at the Paterson Housing Authority site, and was joined by Senator Frank Lautenberg, Congressman Bill Pascrell, Paterson Mayor Jeffrey Jones, and Paterson Housing Authority Executive Director Irma Gorham

May 26, 2011 - (RealEstateRama) -- In response to the recent Tax Foundation study, again demonstrating the regressive burden shouldered by New Jersey property taxpayers, League of Municipalities’ President, Mayor Chuck Chiarello of Buena Vista Township, issued the following statement:

May 19, 2011 - (RealEstateRama) -- In response to the announcement that hundreds of millions of previously unanticipated dollars are now available to address priority needs, League of Municipalities’ President, Mayor Chuck Chiarello of Buena Vista Township, issued the following statement

NEWARK, NJ - May 16, 2011 - (RealEstateRama) -- With the home improvement season well underway, the State Division of Consumer Affairs last week continued its crackdown on unregistered and non-compliant home improvement contractors, assessing $66,500 in civil penalties against 25 contractors nabbed as part of the Division’s new monitoring and enforcement initiative.

TRENTON, N.J. - May 9, 2011 - (RealEstateRama) -- The Christie Administration announced today the launch of the New Jersey HomeKeeper Program, a foreclosure prevention initiative that will assist New Jersey homeowners who have a track record of making their mortgage payments on time but are now at risk of losing their homes to foreclosure as a direct result of unemployment or underemployment.