Housing Advocates Laud New Foreclosure Prevention Funding


On the announcement that $10 million in funding from the federal American Rescue Plan Act of 2021 (ARPA) will be allocated to support New Jersey’s Foreclosure Prevention Act, Housing and Community Development Network of NJ (the Network) President and Chief Executive Officer Staci Berger issued the following statement:

“Today's announcement is a welcome source of relief for vulnerable homeowners still reeling from the pandemic's economic impact. Over the last two years, we've seen high rates of eviction and foreclosure, rent and mortgage delinquency, and missed utility payments, particularly in Black and Brown communities which have been disproportionately affected by the pandemic. Without intervention and investments such as this, these communities will be distressed for years to come, thwarting our recovery efforts.

“We thank Governor Murphy, Lieutenant Governor Oliver, Housing and Mortgage Finance Agency Director Walters and the legislative champions of the Foreclosure Prevention Program, Senator Singleton and Assemblywoman Jasey for their efforts to address housing insecurity and to keep people safe and stably housed. Investing in homeownership protections is among the recommendations we are advocating for in our HouseNJ campaign. We hope the governor and state legislators will make more investments, such as this, from the American Rescue Plan into other critical housing programs. We believe that our state and federal leaders must make investments in housing affordability, stability and security to lay a foundation that helps create a more affordable and equitable NJ for generations to come.”

About the Housing and Community Development Network of NJ
The Housing and Community Development Network of New Jersey is the statewide association of more than 270 community development corporations, individuals and other organizations that support the creation of affordable homes, economic opportunities, and strong communities. For more information on the Network, visit www.hcdnnj.org.

For more information: Nina Rainiero
(609) 393-3752 x1200
Website: hcdnnj.org
Twitter site: twitter.com/hcdnnj
Facebook site: facebook.com/hcdnnj