Measure to allow N.J. to buy, convert foreclosed homes to affordable housing passes Assembly

A bill that would create a state program to buy foreclosed homes and convert them into affordable housing passed the state Assembly Monday afternoon on a mostly party-line vote.  The program would be funded using surplus from an existing state fee on real estate transactions and would run through the end of 2017.  Democrats say Governor Christie hasn’t done enough to help New Jersey homeowners facing foreclosure. Republicans voted against the measure.  The Senate passed the same bill last month.


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