Lawmakers consider barring foreclosures on Sandy homes

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Lawmakers consider barring foreclosures on Sandy homes

Lawmakers consider barring foreclosures on Sandy homes

A state Senate committee endorses the idea of creating a 3-year moratorium protecting Sandy-damaged residences from being foreclosed on.


My Central Jersey-

Homes damaged by Superstorm Sandy couldn’t be foreclosed on for three years if a plan endorsed Monday by a Senate committee becomes law.

The financial breathing room faces more hurdles in Trenton before it could take effect, but the impact would stretch into 2018 if it’s ultimately enacted.

The bill, S2577, was advanced unanimously by the Senate Community and Urban Affairs Committee, though Sen. Jennifer Beck, R-Monmouth, raised questions about including second homes and possibly delaying local redevelopment.

[MY CENTRAL JERSEY]

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