Senator Ronald L. Rice (D-Essex)

01 Dec: Rice- Girgenti Measure Helps Families In Forclosure

TRENTON –Legislation sponsored by Senators Ronald L. Rice and John A. Girgenti, to assist homeowners who are in the foreclosure process was enacted today.

The enacted bill, S-8, appropriates $12.5 million from the Long Term Funding Obligation and Capital Expenditure Fund to the Department of Community Affairs (DCA) and the Administrative Office of the Courts (AOC). The DCA will receive $12million in grant-in-aid funds to provide mediation and counseling opportunities through the New Jersey Housing and Mortgage Finance Agency, and the AOC will receives $500,000 to provide mediation services prior to foreclosure proceedings.