Oct 19, 2008 2:48 pm US/Eastern
NJ Lawmakers Consider Homeowner Protection Bills
TRENTON (AP) ―
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New Jersey Gov. Jon S. Corzine (File)
The New Jersey Legislature will consider bills this week to help struggling homeowners remain in their homes and protect neighborhoods from the impact of foreclosures.
Gov. Jon Corzine is urging lawmakers to take swift action on the proposals, calling New Jersey's rate of 50,000 foreclosures a year "alarming."
One bill would waive certain fees for nonprofit groups who buy foreclosed properties if they help the homeowners remain while they recover financially.
Another would establish a $30 million fund to pay for emergency loans, counseling services and efforts by nonprofits to buy foreclosed properties and return them to productive uses.
Corzine also wants an additional $7 million to go to state aid Legal Services to help those caught up in the financial crisis.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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