NJ Bill would Turn Foreclosed Homes into Affordable Housing
Industry Update
February 4, 2022
Source: northjersey.com
To ensure that housing nonprofits purchasing foreclosed homes commit to transforming blighted structures into affordable housing, lawmakers amended a foreclosure bill in committee Thursday.
Under A793, New Jersey would make it easier for family members or low-income buyers to purchase foreclosed homes by removing barriers in sheriffs sales. Legislators advanced the bill out of the Assembly Community Development and Affairs Committee, a month after the bill died last session without a full chamber vote.
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