Governor Murphy Announces Foreclosure Prevention Funding to Support New Jersey Communities and Residents

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Governor Phil Murphy announced that $10 million in funding from the federal American Rescue Plan Act of 2021 (ARPA) will be allocated to support New Jersey’s Foreclosure Prevention Act (P.L. 2021, c.34) program administered by the New Jersey Housing and Mortgage Finance Agency (NJHMFA). NJHMFA will use these funds to stabilize communities through supportive homeowner interventions and vacancy rehabilitation and sale, stemming the loss of single-family homes to rental property investment firms.