Jasey Joins in Call for Governor to Use Federal Settlement Money to Help Victims of Foreclosure Crisis, Not as One-Shot Budget Gimmick

Assemblywoman Mila Jasey (D-Essex/Morris) on Wednesday called on Governor Christie to use the sizeable sum of money coming from the federal foreclosure settlement to help those who have been hurt the most by the questionable practices of some of the nation’s largest mortgage lenders.

Jasey, who is also the lead sponsor of a measure (ACR-145) aimed at helping families stay in their homes during and after the foreclosure process, joined the call of more than 50 community organizations and legislators who want to see New Jersey’s share of the settlement applied to foreclosure counseling, affordable home creation, and addressing the overabundance of vacant or abandoned foreclosed properties throughout the state.

“The mortgage crisis cast a web over entire communities, impacting a family’s financial status, mental and physical well-being, the economic vitality of our neighborhoods and the overall fiscal health of our state. Families have been uprooted and neighborhoods have been left to languish as a result of this crisis. Now the Governor wants to confiscate the funds meant to help mitigate these problems by resorting to the one-shot budget gimmicks he has derided in the past.

“By attempting to use this money to subsidize his income tax cut for the wealthy, the Governor is turning his back on the victims of the housing crisis. These funds should not be used to balance the budget. They should be used to help the families who have been tossed out of their homes and are still struggling to find work in this tenuous economy. They are the ones who need help getting back on their feet, not the millionaires of this state. The Governor needs to do right by the people of this state and stop turning a blind eye to these realities while falsely trumpeting a ‘comeback,'” said Jasey.