NJ Spotlight News
Murphy conditionally vetoes Ida mortgage relief bill
Clip: 9/12/2024 | 1m 10sVideo has Closed Captions
The governor asks lawmakers to revise, add stronger protections against potential abuse
Homeowners still recovering from flood damage three years after the remnants of Hurricane Ida drenched New Jersey must continue to make mortgage payments on properties that in many cases are still uninhabitable, after Gov. Phil Murphy Thursday conditionally vetoed a bill that would have offered them forbearance.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
Murphy conditionally vetoes Ida mortgage relief bill
Clip: 9/12/2024 | 1m 10sVideo has Closed Captions
Homeowners still recovering from flood damage three years after the remnants of Hurricane Ida drenched New Jersey must continue to make mortgage payments on properties that in many cases are still uninhabitable, after Gov. Phil Murphy Thursday conditionally vetoed a bill that would have offered them forbearance.
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Learn Moreabout PBS online sponsorshipAlso tonight, homeowners still trying to recover from flood damage three years after the remnants of Hurricane Ida drenched the state.
We'll have to wait a little longer for any financial relief.
Governor Murphy today conditionally vetoed a bill that would have offered the mortgage forbearance on properties that still aren't livable.
The bill was passed unanimously by lawmakers in June and would have also halted foreclosure proceedings.
Those are two items recovery advocates have said are critical in helping people around the state get back on their feet.
But the governor explained his veto with concerns that the bill was written in a way where it could be easily abused because it required forbearance be given to any eligible homeowner who simply sends a written request to their mortgage lender.
Murphy also asked lawmakers to add a requirement that homeowners looking for relief enroll first in a state disaster recovery program and have their application reviewed before the help is granted.
The bill now goes back to state lawmakers to consider Murphy's changes.
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