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Battling Foreclosure Cr in NJ
(MENAFNEditorial) Battling Foreclosure Cr in NJ Learn How to Avoid Foreclosure NJ
Learn How to Sell you house fast for cash While th ffl transition f wr still underway, thr wr mrtnt actions frm bth th Newark and Irvington unl tht foreshadow what th ltn will mn fr wrkng-l people generally and fr hmwnr n rtulr.
Th Newark Cunl vtd unnmul t approve a resolution authorizing th mr'' ff t start th r f crafting nd implementing a ll rnl rdutn rgrm aimed t keeping families facing frlur n thr hm. Th ln would ultmtl u a r knwn ''rvr mnnt dmn'' to urh th mt tx mrtgg frm nvtr t fair-market vlu, llwng th t t repackage th mortgages at rt that wuld allow wrkng fml to ffrd thr hm nd vd frlur.
Th unanimous action b th Nwrk Council came on th heels of a nw rrt, ''Undrwtr Amr,'' that fnd Nwrk has th nd-hght rt of undrwtr mortgages in the untr. Undrwtr mrtgg where hmwnr owe mr n thr mrtgg than thr hm wrth r n undutd precursor to foreclosure.
Th rrt fund tht Nwrk, Elzbth and Paterson outrank hrd-ht Detroit n th rate of undrwtr mrtgg. Wht'' mt lr but the rrt'' fndng tht th foreclosure r nt over, nd New Jr'' crisis ldng th country.
In ntrt t the Nwrk Cunl'' response was a vt on th m vnng n Irvngtn, whr council ldr abruptly ut th brakes n ln fr a mlr rgrm. Until the rnt elections, th unl had bn mvng frwrd wth t ln nd working closely with an rgnzd gru of hmwnr. But th lt hngd drtll ftr th election nd a dn was md t lt Wll Strt.
Dt the growing b f vocal hmwnr, Cunl President D. Bilal Bl ndfntl tbld a vt on th mur. D th mean tht th fght n Irvngtn dd? Not b a lng ht.
Homeowners, frustrated by years f ntn by federal, tt nd now local authorities, rttd the council''s decision t tbl th measure nd disrupted th unl meeting, mkng t mbl fr th unl members to ntnu the n. While t clear th ltl lnd has shifted drmtll, t l lr tht rgnzd homeowners n Irvngtn r rd t fight.
And th brng u bk to Newark, whr DVnnz'' wll-fundd nddt, Shvr Jffr, lt t th progressive ult movement that urt R Baraka.
Whl th fght to v Newark families frm frlur wn''t b easy, t wll b bkd b th rgrv leadership of Baraka and th rgrv voices n the Newark Cunl. Mr mrtnt, th movement t nt a l f local principal reduction ung eminent dmn will b jut that '' mvmnt.''
Homeowners in Newark r lrd rgnzng t urt th mur nd save thr homes. Evn mr thn fighting fr their homes, th ddtd and civically nggd residents are fghtng t save their communities frm th consequences f frlur: abandoned and vnt buildings; blght; rm; nd untold mlln drnd frm th t budgt to mng nd for these consequences.
Whl th rnt ltn shifted th lt f Ex County in drmt ways, this ''tale f two cities'' k vlum but the priorities of the ltl rgrv who bukd Wll Strt n fvr of the l, nd th mhn ltn urtd by J DVnnz.
S, who wll ultimately wn th fight? Our money on th l.

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