$300M Available To Save Homes From Foreclosure

money Weeks after New Jersey residents responded in high numbers to the announcement of a government foreclosure-prevention program, the amount of money available from the federal government to help with monthly mortgage payments has been more than doubled to $300 million. Major banks have halted foreclosures temporarily in 23 states, including New Jersey, after revelations of so-called rubber-stamp foreclosure procedures, with documents being authorized without proper reviews.

Gov. Chris Christie’s administration announced Sept. 23 that New Jersey would receive $112 million from the federal government for the HMFA’s New Jersey Homekeeper Program.

This second round of funding of $188 million will help meet high demand for the program, said Hollie Gilroy, spokeswoman for the state Department of Community Affairs.

“There has been a tremendous response to the New Jersey Homekeeper Program.

With the additional funding, we should be able to assist about 7,500 homeowners facing foreclosure,” Gilroy said. Read full article in APP.

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  1. MY tax dollars are going to help people pay their mortgages? The homes that were too big for them, too expensive and way out of their price range? MY tax dollars are bailing them out? this is absurd and an outrage

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