Committee approves Sandy foreclosure bill

Victims of Superstorm Sandy whose homes are going into foreclosure may soon get a reprieve.



The New Jersey Assembly Housing and Community Development Committee approved a bill Monday that would put a three-year stay on foreclosure proceedings for certain Sandy-damaged properties.



Lenders would have to wait at least three years for homeowners to receive their grant money.



Supporters of the bill say that it gives victims much-needed breathing room. However, opponents say it is just shifting blame from slow government onto the banks.



The bill will next go before the full Assembly for approval.


sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."