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The New Jersey state legislature has passed a bill that helps victims of 2012’s Superstorm Sandy from being foreclosed upon.
The bill, A-4139, is designed to help Superstorm Sandy victims who qualified for state or federal disaster relief funds but have yet to receive any financial assistance to become eligible for a stay of foreclosure proceedings, during which time mortgage and interest payments would be deferred. For Sandy victim homeowners not facing foreclosure, the bill allows homeowners to apply for a certificate of eligibility for mortgage forbearance from the state’s Department of Community Affairs.
“The threat of foreclosure is a harsh reality for New Jersey’s families still struggling with home repairs as a result of the damage caused by Superstorm Sandy,” said Assemblyman Vincent Mazzeo, a Democrat who co-sponsored the bill. “It has been a tough road for many families who have had to navigate insurance companies, FEMA guidelines and state grant funding requirements. This legislation gives these residents the assistance they need and have requested for some time now.”
The bill has been forwarded to Gov. Chris Christie’s office for his signature. The governor, who has been absent from the state while seeking the Republican presidential nomination, has not publicly signaled if he would sign or veto this bill.