U.S. Senators Robert Menendez and Cory Booker today announced the awarding of $69,231,301 from the U.S. Treasury’s Hardest Hit Fund (HHF) to assist financially-stressed New Jersey homeowners with mortgage modifications and refinancing to avert foreclosure and stay in their homes. In 2015, New Jersey had the nation’s highest foreclosure rate.

“It’s important to do everything we can to help struggling homeowners who are underwater and facing foreclosure stay in their homes, keep families together and strengthen neighborhoods,” said Sen. Menendez, the Ranking Member of the Housing Subcommittee. “This is critical funding to help address New Jersey’s worst-in-the-nation foreclosure crisis. Hardest Hit Funds are what we call ‘use-it-or-lose-it’ dollars—meaning the State has to demonstrate the continued need by effectively allocating the resources. Unfortunately, too many New Jersey families and communities are still reeling from the Great Recession, and I will continue to fight for them.” 

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