CHRISTIE ADMINISTRATION LAUNCHES NEW FORECLOSURE PREVENTION INITIATIVE
New Jersey HomeKeeper Program Helps Struggling Homeowners Pay Their Mortgages
The Christie Administration announced the launch of the New Jersey HomeKeeper Program on May 9, 2011. The foreclosure prevention initiative will assist New Jersey homeowners who have a track record of making their mortgage payments on time but are now at risk of losing their homes to foreclosure as a direct result of unemployment or underemployment.
"The New Jersey HomeKeeper Program is here to assist homeowners who are struggling to make their mortgage payments because they lost a job or have seen their paychecks reduced," said New Jersey Department of Community Affairs (DCA) Commissioner Lori Grifa. "We understand that New Jersey families - like households around the country - continue to face difficult economic realities, and we want to help them keep their homes as they look for work."
Read the complete press release here, or visit the program website at http://www.njhomekeeper.gov.
DCA & HMFA REMIND HOMEBUYERS ABOUT
"THE ROAD HOME NEW JERSEY" WEBSITE
New Online Tool Helps Educate Prospective Homebuyers During Busy Home Buying Season
New Jersey Department of Community Affairs (DCA) Commissioner Lori Grifa and New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony Marchetta urge prospective homebuyers to take advantage of The Road Home New Jersey, a new consumer education tool that will help guide them in the home buying process.
"Summer is home buying season, and as market conditions put would-be homebuyers in the driver's seat, they now have a roadmap to follow along the way to their ultimate destination of home ownership," said Commissioner Grifa, who is chair of the HMFA. "The education campaign is particularly useful for first-time homebuyers who may be unfamiliar with the paperwork, technical phrases, and costs involved with purchasing a house."
Launched by the DCA and HMFA in April, The Road Home New Jersey is a new consumer education initiative to help people navigate the home buying process, secure affordable home ownership and identify financing opportunities. The Road Home New Jersey's user-friendly website, www.TheRoadHomeNJ.com, delivers concise and valuable information to prospective homebuyers.
Read the complete press release here, or visit the program website at http://www.TheRoadHomeNJ.com.
THE 2011 GOVERNOR'S CONFERENCE ON HOUSING AND ECONOMIC DEVELOPMENT
SLATED FOR SEPTEMBER 20 & 21, 2011
The 2011 Governor's Conference on Housing and Economic Development Welcomes New Partners:
The New Jersey Economic Development Authority and the New Jersey Department of State
The 2011 Governor's Conference on Housing and Economic Development is thrilled to welcome two new partners - the
New Jersey Economic Development Authority (EDA) and the
New Jersey Department of State.
The New Jersey Economic Development Authority (EDA) is an independent state agency that serves as the state's "bank for business" by financing small and mid-sized businesses, administering tax incentives to retain and grow jobs, revitalizing communities through redevelopment initiatives, and supporting entrepreneurial development by providing access to training and mentoring programs.
The mission of the New Jersey Department of State is to enhance the overall quality of life for New Jersey residents by advancing and supporting our state's economic vitality, cultural and historical programs and civic engagement responsibilities.The Department of State's core mission areas include economic vitality, cultural and historical programs and civic engagement responsibilities.
Learn more about the New Jersey Economic Development Authority (EDA) and the New Jersey Department of State and their session offerings at this year's conference by reading the track descriptions and detailed session information on the conference website: www.njhousingconference.com.
PROJECT MILESTONES - AFFORDABLE HOUSING
DCA & HMFA Celebrate the Ribbon Cutting of Oasis Housing in Camden
Project Provides 10 Affordable Housing Units in Gateway Neighborhood
New Jersey Housing and Mortgage Finance Agency (HMFA) representatives joined City of Camden Mayor Dana Redd and other local officials on June 3, 2011 to celebrate the completion of Oasis Housing, an affordable housing community in the Gateway neighborhood and redevelopment area of Camden. The HMFA, an affiliate of the Department of Community Affairs (DCA), committed approximately $2.3 million in pre-development, construction, and subsidy loans for the project.
"The Oasis project is a wonderful addition to the City of Camden as it will provide several residents in the community with access to safe, decent, affordable housing. It also brings stability and cohesiveness to the City's Gateway neighborhood," said DCA Commissioner Lori Grifa, who is Chair of the HMFA. "My sincere congratulations go out to the development team who successfully transformed a vision into a reality." Read the entire press release here...
DCA & HMFA Break Ground on 90-Unit Affordable Apartment Community in Newark
Baxter Park to Connect Communities to City's Broad Street Station District
New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony Marchetta joined City of Newark Mayor Cory Booker and local officials on July 14, 2011 to break ground on Baxter Park, an affordable apartment community to be located at 39-47 Sussex Avenue near Newark's Broad Street Station District. The HMFA, an affiliate of the Department of Community Affairs (DCA), provided construction and permanent mortgage financing in the amount of $16,350,000 for the project. Baxter Park also is expected to be awarded federal Low Income Housing Tax Credits, which will generate approximately $10.2 million in private equity.
"Baxter Park represents not just an expansion of affordable housing options in the Newark area, but it will serve as an asset to the surrounding community," said DCA Commissioner Lori Grifa, who is also Chairman of the HMFA. "The DCA and HMFA are proud to be involved in projects such as these because they create high-quality affordable housing for those New Jersey households who need it."
Read the entire press release here...
PROJECT MILESTONES - SENIOR, SPECIAL NEEDS, SUPPORTIVE AND VETERAN HOUSING
NJHMFA Presents $3.7M Grant to Supportive Housing in Allendale: Allendale Non-Profit Begins 2nd Housing Project; Apartments for Disabled to be Built
A year from now, a site that was home to a construction company will have more than a dozen apartments for disabled adults.
The 2-acre property on West Crescent Avenue will be the borough's second housing development dedicated to this under-served population, putting Allendale at the forefront of a growing number of municipalities seeking to help address a housing shortage for disabled residents.
Allendale Housing Inc., a non-profit established by the borough, is partnering with Bergen County United Way and Madeline Corp. to build Crescent Commons. Read More...
Original Article Citation Information:
Pries, Allison. "Allendale non-profit begins 2nd housing project; apartments for disabled to be built." The Record/NorthJersey.com, June 7, 2011. Retrieved July 19, 2011 from http://www.northjersey.com/news/123303698_Allendale_non-profit_begins_2nd_housing_project.html
New Social Services for Residents at Public Housing Community
At Millennium Way, a new public housing community in the South Ward, some residents will be able to tap social services for the mentally disabled with tentative plans to bring similar programs to other city properties owned by the Newark Housing Authority (NHA).
These residents who live in special designated units are benefiting from a partnership that the NHA entered into with University of Medicine and Dentistry of New Jersey (UMDNJ) and the New Jersey Housing and Mortgage Finance Agency (NJHMFA).
That partnership was formally recognized late last month at the NHA offices when officials from the NJHMFA handed over a symbolic $1.5 million check for the program to NHA. UMDNJ, through its University Behavioral Health Care Department, will provide the social services.
Read More...
Original Article Citation Information
Adarlo, Sharon. "New Social Services for Residents at Public Housing Community." Westward.Patch.com, July 12, 2011. Accessed July 19, 2011. http://westward.patch.com/articles/new-social-services-for-residents-at-public-housing-community#photo-6935538
JOINING FORCES TO BETTER OUR COMMUNITIES
Haddon Township Added to Live Where You Work Program
The HMFA is proud to partner with 37 municipalities across the State in the "Live Where You Work" Program (LWYW), with Haddon Township being the latest municipality to join.
Read the complete press release regarding Haddon Township here...
LWYW is a special homebuyer workforce incentive program for people who wish to buy a home in the town where they work. LWYW provides low-interest, fixed rate mortgage loans, downpayment and closing cost assistance, and flexible underwriting criteria for the loan qualification process to qualified buyers.
The Live Where You Work program strives to revitalize and build sustainable communities that will provide a greener environment, access to alternative transportation and affordable housing opportunities for residents.
Live Where You Work received the 2009 President's Award for Innovation from the Council of State Community Development Agencies, a national association that supports state efforts in community development, affordable housing, local economic development and state-local relations. The award recognizes innovative activities, policies or programs that have been implemented at the state level and have demonstrated success in solving community needs.
Incentive Program Attracts Homebuyers to Bridgeton
A recently rolled-out state program is trying to encourage more home ownership in this Cumberland County city, where median housing prices are among the lowest in the region.
The Live Where You Work homebuyer incentive program, administered by the New Jersey Housing and Mortgage Finance Agency, aims to entice those working in Bridgeton to buy homes here.
For more information on Live Where You Work, click here.
"Most cities have an imbalance of rental vs. homeownership. We want to change that," said Bridgeton Mayor Albert Kelly, who bought his first home in 1987.
"It gave me a sense of pride, of having the American Dream. It's all about pride and a sense of ownership," he said. Read More...
Original Article Citation Information:
Ianieri, Brian. "Incentive Program Attracts Homebuyers to Bridgeton." PressofAtlanticCity.com, June 10, 2011. Accessed July 19, 2011.
http://www.pressofatlanticcity.com/business/incentive-program-attracts-homebuyers-to-bridgeton/article_ee8219bc-93c0-11e0-a704-001cc4c002e0.html
ABOUT HMFA
The New Jersey Housing and Mortgage Finance Agency (HMFA) is leading the way through innovative programs that are building effective relationships with developers, corporations, non-profits and for-profits to produce more affordable housing. HMFA puts people first by financing single family and multi-family housing and encouraging mixed use developments. These initiatives promote sustainable development that protect open space, curb sprawl and improve regional transportation.
We are dedicated to making investments in communities across New Jersey and building neighborhoods where people want to raise families and build businesses. Part of that vision means providing people of all walks of life with access to safe, clean and affordable housing options. Thanks to the efforts of the HMFA, we are creating homes for our State's families.
Sincerely,
Anthony L. Marchetta, Executive Director
New Jersey Housing and Mortgage Finance Agency
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