NEW LAW TO STOP FORECLOSURES ON SANDY DAMAGED HOMES
A new statute has gone into effect regarding property that was damaged by Hurricane Sandy. This amendment to the Superstorm Sandy Bill of Rights imposes new public requirements on the Department of Community Affairs (DCA) to allow homeowners impacted by Sandy, under limited circumstances, to apply to the Court for a stay of active foreclosure proceedings until November 2018.
The full statute can be found here.
YOU MAY QUALIFY IF:
- IF YOU HAD MORE THAN $8,000 OF DAMAGE FROM SANDY OR MORE THAN A FOOT OF WATER ON THE FIRST FLOOR OF YOUR PRIMARY RESIDENCE; AND
- YOU RECEIVED RENTAL ASSISTANCE FROM THE FEDERAL EMERGENCY MANAGEMENT AGENCY OR YOU WERE APPROVED FOR ASSISTANCE THROUGH THE RREM OR LMI PROGRAMS AND THE WORK HAS NOT BEEN COMPLETED; AND
- YOUR HOME WAS IN FORECLOSURE AS OF AUGUST 10, 2015.
If approved, you may be able to stop your foreclosure until November 2018 to give you time to resolve construction and mortgage issues.
Contact Ira J. Metrick, Esq. Today
You must file a motion with the Court within the next few months in order to benefit from this new statue, and we can help you with a **motion to the Court. Contact us today to discuss your foreclosure.
** We do not offer representation for issues concerning contractors, insurance or grants.