Foot-Dragging In NJ

New Jersey Foreclosures Crisis: Chris Christie Not Using $300 Million In Federal Funds To Help Distressed Homeowners, WABC Reports

...In 2011, New Jersey accepted $300 million in federal money to start the Homekeeper Program, which would, as its website advertises, promote "neighborhood stability in New Jersey communities by providing financial assistance to eligible homeowners in danger of foreclosure."

New Jersey currently suffers the second-highest foreclosure rate in the nation, according to the Mortgage Bankers Association. However, Hoffer reports that more than a year after the Homekeeper Program was launched, the state has doled out only $4 million, of $300 million available, to 498 families -- while nearly 2,000 applicants have been denied...