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WATSON COLEMAN PRAISES GOVERNOR'S CONTINUED EFFORTS TO PROTECT HOMEOWNERS
By teel
WATSON COLEMAN PRAISES GOVERNOR'S CONTINUED EFFORTS TO PROTECT HOMEOWNERS
(TRENTON) - Assembly Majority Leader Bonnie Watson Coleman today commended Gov. Jon S. Corzine for his continued leadership in combating the mortgage foreclosure crisis. Watson Coleman (D-Mercer) has sponsored several measures to help homeowners keep their homes and combat mortgage foreclosure.
The Governor on Thursday announced the state has entered into a consent judgment with Countrywide Financial Corporation to resolve allegations that the company placed borrowers in risky, high-priced and ultimately unaffordable sub-prime mortgages.
Watson Coleman released the following statement:
"I commend the Governor for his quick action and leadership on this agreement that will assist New Jersey's working families who are in financial duress and facing foreclosure of their home.
"This agreement will provide immediate relief to an estimated 8,200 New Jersey homeowners through mortgage modification programs for delinquent borrowers or those who are facing a hike in their current mortgage rate.
"With the national housing crisis forcing so many working families into foreclosure we must continue to do all we can to provide relief to New Jersey homeowners through effective mortgage foreclosure mitigation programs. This is another step forward in keeping families in their homes."
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