New jersey releasing $10 million in american rescue plans fund to assist residents facing foreclosure
Stressed woman with husband holding document with foreclosure and final notice lettering on floor in room

New Jersey releasing $10 million in American Rescue Plans fund to assist residents facing foreclosure

Posted by
1 min read
February 17, 2022

TRENTON, NJ – The nearly year-long business shutdown in New Jersey in 2020 is starting to create long-term problems, especially with those struggling to catch up on their home mortgage payments. The U.S. is staring down a possible foreclosure and homeless crisis as families can’t stay afloat, even as things return to normal.

Families have racked up credit card debt and many used mortgage forbearance during the pandemic to stay afloat. Now with federal assistance gone, the state of New Jersey is stepping in to help.

The New Jersey Housing and Mortgage Finance Agency will be enhancing its ability to assist homeowners facing foreclosure due to a hardship caused by the pandemic. HMFA is investing an additional $10 million in federal American Rescue Plan Act funds into its current foreclosure protection programs to bolster its implementation of the Foreclosure Prevention Act signed by Governor Murphy in 2021.

“These programs focus first and foremost on families facing foreclosure and working with them to keep them in their homes. However, HMFA also looked for opportunities to rehabilitate abandoned foreclosed properties so they can be put back on the marketplace, which not only helps families looking for an affordable home but also helps prevent homes from being bought up by predatory investors and helps communities from being negatively impacted by the presence of an abandoned home,” Murphy said. “If you are facing a possible foreclosure and need more information on the programs offered by the New Jersey Housing and Mortgage Finance Agency, please visit that website, njhousing.gov.”

Phil Stilton

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital newsroom providing original reporting on New Jersey, national news, government, public policy, public safety, courts, and community affairs.

As founder of the publication, Stilton leads editorial strategy, investigative reporting, and daily newsroom operations while overseeing coverage that reaches millions of readers annually.

With extensive experience covering municipal government, county government, state legislatures, elections, law enforcement, emergency management, and public records, Stilton specializes in translating complex government actions into clear, factual reporting. His work frequently relies on primary source documents, including court filings, legislation, public meeting records, election finance disclosures, government databases, police reports, and Freedom of Information and Open Public Records Act (OPRA) requests. He has reported extensively on local government accountability, taxpayer spending, campaign finance, public corruption investigations, infrastructure, public safety, and the policies affecting New Jersey residents.

Under Stilton's editorial leadership, Shore News Network has grown into one of New Jersey's largest independent digital news organizations, publishing thousands of original news articles each year while providing breaking news coverage, investigative reporting, and analysis across state and local government. The publication's reporting is routinely sourced from official government agencies, public officials, court records, and firsthand documentation, with a commitment to transparency, attribution, corrections when warranted, and clearly distinguishing factual reporting from opinion.

Stilton's journalism follows established newsroom standards emphasizing accuracy, verification, fairness, and accountability. Every effort is made to verify information through official records and multiple reliable sources before publication. His reporting is intended to provide readers with timely, well-documented information that helps them understand the issues affecting their communities, while maintaining editorial independence from political parties, government agencies, advocacy organizations, and commercial interests.

Readers can submit story tips, corrections, public records, or media inquiries through the official Shore News Network website or its verified social media channels. Shore News Network welcomes corrections and updates when new information becomes available as part of its ongoing commitment to accurate and transparent journalism.