New Jersey lawmakers are trying to conform state law with a new constitutional mandate barring governments from taking more than they are owed when collecting tax debt, but the attempt got off to a rocky start Thursday.
Advocates for investors and homeowners warned members of the Senate Urban and Community Affairs Committee that the proposal may still be constitutionally deficient by offering a limited timeline for homeowners to preserve their equity.
The bill would allow homeowners facing tax sale foreclosure to file with the state Superior Court in a bid to keep whatever equity remains after outstanding liens are settled in a sheriff sale, but those provisions only activate if a homeowner enters the filing within 45 days of receiving a foreclosure complaint.
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