Legislation sponsored by Senator Jennifer Beck (R-Monmouth) creating foreclosure protections for victims of Superstorm Sandy has been signed into law by Governor Chris Christie.
Sen. Jennifer Beck’s bill creating foreclosure protections for victims of Superstorm Sandy has been signed into law by Gov. Chris Christie. (FEMA)
Beck’s bill, S-2300, establishes temporary protections against foreclosure for families who continue to experience economic distress as a result of the storm.
“A few days ago, I held a public meeting for Sandy victims who continue to experience financial and bureaucratic difficulties associated with the recovery process,” said Beck. “We heard from too many families that are struggling to pay mortgages on homes that are still uninhabitable while also paying rent on temporary housing until they can move home again. We know unequivocally that this financial burden can be overwhelming. This new law will ensure that those families victimized first by the storm, and later by government and insurance company bureaucracies, will have additional protections from foreclosure.”
The new law directs the Commissioner of Community Affairs to notify Sandy-impacted families of their eligibility for foreclosure protections and post eligibility information on the department’s website.
Additionally, the Commissioner must notify courts and mortgage lenders of individuals who are eligible for such protections.
“More than four years after Sandy devastated so many homes and lives along the Jersey Shore, we still have 3,200 victims with incomplete home elevation and construction projects,” added Beck. “After years of heartache, this new law will help to remove some of the worry for those families that deserve the opportunity to move home again after so much work.”
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