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Spearman, Speight Bill to Help Towns Address "Zombie" Properties Clears Assembly

"Second Highest in the Nation in Zombie Foreclosures in 2017"
New Jersey had the second highest number of "zombie" foreclosures in the nation only two years ago. Assembly Democrats William Spearman (D-Camden, Gloucester) and Shanique Speight (D-Essex) issued the following statement Monday on the full Assembly approval, 75-1, of their bill (A-4999) requiring a creditor that institutes a foreclosure proceeding on residential property to provide contact information of a person deemed responsible for care of the property with the summons and complaint in Superior Court, and with the lis pendens filed with the office of the county clerk or register of deeds and mortgages:

"Our state ranked second in the nation for most 'zombie' foreclosures. New Jersey communities, especially in cities like Camden and Newark, are plagued with the presence of abandoned properties--some having been around for a decade or more. These properties pose health and public safety risks for residents as well as drive down property values. "

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Assemblywoman Shanique Speight Main Page