The New Jersey Residential Foreclosure Transformation Act was approved this week by the Assembly Appropriations Committee, aimed at reviving the stagnant economy and increasing home ownership.
Affordable housing advocates accuse Governor Chris Christie of diverting $75 million of a federal foreclosure settlement to the general fund to help balance the state budget.
Refocusing on the economy, President Barack Obama on Friday pushed Republicans to back housing policies the White House says would help shore up struggling homeowners and prevent foreclosures.
The American Dream of owning a home is at its lowest point in 15 years, more evidence that the housing market is far from recovery even five years after the housing crash.