New Jersey’s Worsening Foreclosure Crisis

State legislators attempting to deal with New Jersey’s foreclosure crisis heard a tale of two administrations: one a best of, one a worst of, but both governed by Chris Christie.

First, Community Affairs Commissioner Richard Constable wowed the joint session of two Assembly committees by admitting past failures but promoting current success in distributing $300 million in federal foreclosure aid.

Constable’s presentation about his overhaul of the embattled NJ HomeKeeper loan program left Assemblyman Jerry Green (D-Union) starry eyed.

“If I go back into the private sector, I’m going to hire you,” he told Constable, and led a chorus of Democrats and Republicans in a “let’s work together” theme.

But the commissioner did not stay around for testimony from struggling homeowners, foreclosure victims, housing counselors, and activists, whose faint praise for Constable’s department faded against criticism of “incoherent” policies.

Read the rest of the article here.

Photo from Wikipedia.

Click here to sign up for Baristanet's free daily emails and news alerts.