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
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Jun 24, 2015, 2:34 AM
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Updated 3,514 days ago
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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.
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