(TRENTON) - Legislation sponsored by Speaker Pro Tempore Jerry Green, Assemblyman Troy Singleton, Assemblywoman Mila M. Jasey and Assemblyman Benjie E. Wimberly authorizing lenders to foreclose mortgages on vacant and abandoned properties has been signed into law.
"Vacant properties are problematic for neighborhoods. More than being unsightly, they drag down property values and attract criminal activity," said Green (D Middlesex/Somerset/Union). "This law will help clear neighborhoods of these nuisance properties by changing a process that can take over a year in most foreclosure cases, and compact it to a few months."
Contact Eva Loayza at (609) 847-3500
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