Press Release

By Jason Butkowski | November 15th, 2012 - 2:50pm
| More

RICE BILL TO ALLOW MUNICIPALITIES TO REQUIRE LENDERS TO MAINTAIN VACANT FORECLOSED HOMES ADVANCES

Measure Would Reduce Municipal Blight, Maintain Property Values for Surrounding Homes

TRENTON – A bill sponsored by Senator Ronald L. Rice which would allow municipalities to require creditors who initiate a foreclosure proceeding to secure and maintain the vacant, foreclosed home was unanimously approved by the Senate Community and Urban Affairs Committee today.

“We’ve seen the negative impact of vacant, foreclosed homes falling into disrepair within a community,” said Senator Rice, D-Essex, the Vice Chair of the Senate Community and Urban Affairs Committee. “When a home stands vacant and the property deteriorates, it can bring down property values of surrounding homes, and it can create a magnet for criminal activity. Through this legislation, we’re trying to require creditors to take responsibility for the homes they’re overseeing, so that these homes do not create a burden for the rest of the municipality.”

Click here to read the rest of Senator Rice's news release.

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Contact Info: 

Jason Butkowski
New Jersey Senate Democratic Office
Tel: (609) 847-3700
E-Mail: jbutkowski@njleg.org
Web: www.njsendems.com

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Quote of the day

"The frustration is she might as well have named Joe Cryan her choice for state party chair because Jason O'Donnell is simply a beard for Joe Cryan." - State Senate President Steve Sweeney (D-3).

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Poll

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18%
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36%
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9%
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