Sandy foreclosure moratorium becomes law
TRENTON, NJ - After vetoing previous efforts, Governor Chris Christie today signed into law legislation that provides foreclosure protection to homeowners with property damaged by Superstorm Sandy. Housing advocates, Sandy survivors, and bill co-sponsors have long pushed for measures that provide relief to households attempting to rebuild.
"We've spent two long years trying to get Sandy families protection from foreclosures and so today is a good day for us," said Joe Mangino, Superstorm Sandy survivor and New Jersey Organizing Project co-founder. "Even though the governor doesn't seem happy about signing the bill, we are happy it got signed. We know this will help many families be able to afford to stay in their homes. We are grateful to the Sandy survivors who have kept up the fight, and to our legislators who have not forgotten families like mine."
The measure would offer foreclosure protection for up to three years to qualified Sandy homeowners who have been approved for assistance through the state's Reconstruction, Rehabilitation, Elevation and Mitigation (RREM) as well as a program for low- and moderate-income homeowners. People who received rental assistance from FEMA would also be eligible.
"For all the families struggling to keep their heads above water, there's hope" said Staci Berger, president and chief executive officer of the Housing and Community Development Network of New Jersey. "Our families, friends, and neighbors deserve better than what they've been forced to endure over the last four years. Because of the hard work and dedication of our legislative leaders, Sandy survivors, and advocates, there will finally be some relief and the chance to rebuild."
"We are grateful for the hard work of all the sponsors in advancing this important legislation to prevent Sandy-impacted families from losing their homes to foreclosure," said Adam Gordon, Associate Director of the Fair Share Housing Center. "More than four years after Superstorm Sandy devastated New Jersey, thousands of families are still not done rebuilding. This legislation will provide these families with increased transparency and protect them from losing their homes as they wait for the help they need to rebuild."