Foreclosure aid program being reviewed - DC News FOX 5 DC WTTG

Foreclosure aid program being reviewed

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TRENTON, N.J. (AP) -- Assembly Democrats will examine what they say is the Christie administration's failure to help more New Jerseyans facing foreclosure.

Two Assembly panels on Wednesday will hear from homeowners and Community Affairs Commissioner Richard Constable.

The administration has been slow to distribute $300 million in federal foreclosure aid. The New Jersey HomeKeeper program provides zero-interest, deferred payment mortgage loans up to $48,000.

The program distributed $42 million through its first 7 months, approving an average of eight grants a month.

Gov. Chris Christie says the department has added staff to process applications and corrected other deficiencies in how the program is administered.

New Jersey's foreclosure rate is among the highest in the country.

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