TRENTON, N.J. (AP) — New Jersey is loosening
regulations and adding staff to a program that's been lagging in helping
residents facing foreclosure.
New Jersey HomeKeeper has distributed $42 million of the $300 million that it
received from the federal government. The program provides zero-interest,
deferred payment mortgage loans up to $48,000.
The program approved an average of eight grants a month during the first 7
months after it began last year. Officials are hoping to reach a goal of 250 a
month by the end of this year.
Community Affairs Director Richard Constable tells The Star-Ledger of Newark
(http://bit.ly/U65jO5 ) he's streamlining the
application process and increasing staff.