New Initiative In NJ for Home Owners in Foreclosure
New Jersey has implemented a new initiative called the NJ Judiciary Foreclosure Mediation Program for home owners who are in foreclosure. NJ is trying to help prevent as many foreclosures in the state as possible. Foreclosures are not a winning solution for any of the parties in today’s economy. The home owners don’t want to lose their homes, the banks don’t want any more asset on their books that will take months to dispose of (at a substantial loss, probably), and the municipalities don’t want the vacancies and loss of property tax revenues.
So, if you’re one of the NJ home owners currently facing foreclosure, check out our web site that outlines the different options you have (the sale of your home is NOT the only option you have) besides waiting for foreclosure. We also have details on the NJ Judiciary Foreclosure Mediation Program.
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