By Darryl R. Isherwood | November 15th, 2012 - 3:51pm
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Creditors would be responsible for upkeep and repairs of vacant property engaged in foreclosure proceedings under a bill moved by the Senate Community and Urban Affairs Committee today.

The bill (S1740) is sponsored by Sen. Ronald Rice and supplements existing law that requires the creditor to perform upkeep on foreclosed property.

If the residential property becomes vacant at any time after the creditor files notice of intention to foreclose, but before the property is transferred to a third party, and if the municipality determines that the property is in violation of any applicable state or local housing or safety codes, the municipality may give the creditor notice of the violation, and require the creditor to correct the violation. 

Under the bill, the creditor would be required to correct any violations within 30 days of receiving notice of the violation.  If the creditor fails to remedy the violation within 30 days, the municipality would be able to impose penalties for the violation that are consistent with municipal ordinances under current law.

The initial bill as introduced was substituted for a bill supplementing existing law after an analysis showed it similar to law passed in 2008.

The Back Room

The New York Times is Christie's lap dog, says Hennelly

Veteran New Jersey reporter Robert Hennelly has a column today in Salon in which he bashes the New York Times for glosing over the "icon of cronyism" in its Christie coverage.

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Wake-Up Call

Morning Digest: September 18th

Guv prospects Fulop and Sweeney add voices to Silva, Stack and striking 1199 SEIU workers UNION CITY – They tried out their blue collar tough guy tonsils today in front of a purple-shirted crowd of striking healthcare workers – two of three as-yet-undeclared Democratic candidates for governor: Jersey City...

Op-Ed

Legislation needed for publicly financed gubernatorial elections

By JEFF BRINDLE It is critical that the Legislature soon enact a pending bill that would ensure the state’s Gubernatorial Public Financing Program is available in the event of a special election for governor.  Not only is there no current legal... Read More >

Contributors

(9-17-14) Viral Video Prompts Questionable NJ Municipal Ordinance -  Socrates said, “While I might disagree with what you say, I will defend to the death your right to say... more »
The Correct Foreign Policy – Neither Fortress America Nor Pax Americana      Last week marked the 75th anniversary of the beginning of World War 2.  It started with the... more »
(Asbury Park, NJ) -- There's a word for someone who says one thing and does another: hypocrite.  There's no shortage of 'em in Trenton -- from ... more »
 The following letter was sent today to Republican state legislators, county chairs, state committee members, and New Hampshire... more »

Quote of the Day

quote of the day

“We’re going to hold the line until hell freezes over, and when hell freezes over, we’re going to hold the line on ice skates." - Assemblyman Raj Mukherji (D-31), at yesterday's SEIU 1199 rally.

- PolitickerNJ

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