Trenton – Legislation sponsored by Senator Linda Greenstein, which would extend foreclosure protection and relief programs for Superstorm Sandy-impacted homeowners, passed the Senate today.
“Although this storm devastated our coast over six years ago, the rebuilding efforts from Superstorm Sandy are still ongoing,” said Senator Greenstein (D-Mercer/Middlesex). “To let these programs expire would not only be disservice to the homeowners but also to the state as a whole. Extending the benefits of this relief program will ensure that these homeowners are given the additional time they need to rebuild their homes. It takes years to rebuild from such a devastating storm and we must continue to support those in their recovery.”
The bill, S-3582, would extend the mortgage forbearance and foreclosure protections for certain Superstorm Sandy-impacted homeowners. The protections would be extended to July 1, 2022 or one year following the issuance of a certificate of occupancy, indicating a homeowner had returned to their home. The bill would not reopen the application process for those who have already been deemed ineligible to participate in the program.
This bill would apply to Sandy victims who were approved for assistance through the Reconstruction, Rehabilitation, Elevation and Mitigation Program or the Low-to-Moderate Income Program. It would also apply to individuals who received rental assistance through the Federal Emergency Management Agency for damage inflicted to their primary residence by the storm.
The bill was released from the Senate by a vote of 37-0.