Wall Street's toxic lending practices and recklessness created the housing crisis, and now New jersey homeowners, taxpayers and their families are paying the price. The banks created the housing bubble that led to the economic crash in 2008. Now, without immediate action at the state and local level, residents are facing a multi-billion dollar hit to neighborhoods, communities and schools, undermining our children's future and economic recover we desperately need.
As cities and towns across New Jersey continue to reel from the impacts of the foreclosure crisis, eminent domain as a tool to keep families in their homes, is being seriously considered by local elected leaders. NJ Communities United is working closely with partners, homeowners and elected leaders to consider all options to stabilize our communities and rebuild our economy. Click on the links below for more information about the foreclosure crisis in New Jersey and how eminent domain could be an effective tool to fight this crisis.
- Foreclosure Facts: The Foreclosure Crisis is Devastating New Jersey
- Background on Eminent Domain as a Tool
- Frequently Asked Questions
- The Power of New Jersey Municipalities to Purchase Underwater Mortgages Pursuant to New Jersey's Eminent Domain Law
If you have questions about NJ Communities United, our work fighting the foreclosure crisis or if you would like to know more about eminent domain as a tool please contact us!