As part of a comprehensive effort to solve New Jersey’s residential foreclosure crisis, a bill requiring the Department of Community Affairs to create a database featuring an interactive map graphically illustrating foreclosed properties in New Jersey, and to increase certain recording fees, was approved 73-3-3 Monday by the full Assembly.
The measure (A-5000) is sponsored by Assembly Democrats Gabriela Mosquera (D-Camden, Gloucester), Verlina Reynolds-Jackson (D-Hunterdon, Mercer), and Benjie Wimberly (D-Bergen, Passaic) who released the following joint statement:
“The database and map called for in this bill will help us get a better handle on the residential foreclosure crisis in New Jersey by allowing us to literally see, in real time, where these properties are around the state. By featuring property information such as location by county; municipality and block number; owner; and legal judgment information, the database will help court officials, county clerks, registers of deeds and mortgages, and sheriff’s officers better view and evaluate foreclosures. Managing this information is critical to dealing with the foreclosure crisis.
“Similarly, the most effective way to obtain a solution for a problem is to have an
in-depth understanding of the problem and its various facets. This bill moves us towards gaining such an understanding.”