Posted On: October 31, 2007 by Rich

New Jersey's New Foreclosure Prevention Program

New Jersey announced a new foreclosure prevention effort to help thousands of the state's borrowers who facing foreclosure.

In addition to counseling and financial help to owners, a new task force has been created which will study and find solutions to troubled mortgages. There will also be a $433 million mortgage refinancing bailout.

There are close to 8,000 New Jersey borrowers with subprime mortgages that went into foreclosure in 2007 and there are another 11,000 who are close to three months behind.

Posted by Rich | | Email This Post | Comments (0)

Posted In: Foreclosure

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