Foreclosure, Governor Christie’s Other F Word

Berger Calls on Christie to
Address and Solve Foreclosure Crisis

Foreclosure, Governor Christie's Other F WordOn February, 28, 2014, NJ Voices featured a blog post “Foreclosure, Governor Christie’s Other F Word” by Staci Berger, Executive Director of the Housing and Community Development Network of New Jersey (the Network.)

Writes Berger,

“At his 110th town hall last week, Governor Christie attempted to deflect blame for New Jersey’s stalled and frustrating Superstorm Sandy recovery efforts on the federal government. ‘FEMA,’ he said, ‘is the new F-Word.’”

But she points out that Governor Christie is ignoring the ongoing foreclosure crisis which has continued to impact households and communities affected by Sandy.

“There can be no blame game here. The governor has ignored our state’s foreclosure epidemic before Sandy hit, and has done little to address its impact on the social and economic fabric of our state ever since,” writes Berger.

New Jersey may soon have the highest foreclosure rate in the country.

When New Jersey was awarded $75 million out of a $25 billion dollar settlement with the country’s major mortgage servicer, Christie did not use New Jersey’s settlement dollars to support foreclosure counseling and loan modification efforts.

Christie also failed households affected by foreclosure when his Action Plan for Sandy Recovery did not address mechanisms for families facing foreclosure to get additional time and assistance through the recovery process.

In conclusion, Berger writes,

“Solving the foreclosure crisis will help increase property values and home prices, which can improve our economic outlook. New Jersey must adopt policies and programs that prevent foreclosures and stabilize neighborhoods, as part of our Sandy rebuilding effort and beyond. If New Jersey continues to fail to address this crisis, there will be no one else for Governor Christie to blame.”

Click here for the full blog post.