NJ Lawmakers Advance Foreclosure Surcharge Bill

Law360, New York (March 13, 2014, 5:48 PM EDT) -- A panel of New Jersey lawmakers on Thursday advanced legislation that would impose a temporary $800 surcharge on foreclosure complaints to fund foreclosure prevention efforts such as legal and mediation services.

Versions of the bill sponsored by state Assemblywoman Bonnie Watson Coleman, D-Mercer/Hunterdon, went nowhere in previous legislative sessions but its latest incarnation won the approval of the Assembly Housing and Community Development Committee in a 4-1 vote with one abstention.

Watson Coleman told the committee that New Jersey has one of the highest foreclosure rates...
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