New Jersey Senator Timberlake announced plans to reform a state law designed to protect vulnerable communities from home foreclosures. She stated that the law is being exploited by sham organizations and that a new bill is in the works to address these issues.
The current law includes a nonprofit portion that will be temporarily suspended until the new bill is passed. The revised law will have a stricter process managed by the New Jersey Department of Community Affairs to prevent further exploitation. Organizations found to engage in unethical practices will face prosecution, with penalties of up to $500,000 per property.
Timberlake emphasized the importance of standing with sheriffs and county officials to protect communities, uphold the integrity of the program, and stop criminals from taking advantage of vulnerable communities. She believes that the reform is a vital step toward a stronger, more equitable system. The state’s 34th Legislative district will be affected by these changes.
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