Trenton – Legislation sponsored by Senator Troy Singleton, Senator Dawn Marie Addiego, and Senator Steve Oroho, which would require the Department Community Affairs to create a database and interactive map concerning residential properties under foreclosure, cleared the Senate Budget and Appropriations Committee today.
“Finding the real-time status on foreclosures in New Jersey can be a daunting task. This is due in part to the fact that all of New Jersey’s municipalities do not have a centralized database that government entities can rely upon to get real-time data,” said Senator Singleton (D-Burlington). “Given that New Jersey repeatedly leads the nation in foreclosures, it is imperative that the state makes every effort to align its resources and efforts to capture an accurate picture of New Jersey’s foreclosure problem.”
“Municipalities need to better communicate with the state government in order to track foreclosed homes,” said Senator Addiego (D-Atlantic/Burlington/Camden). “This bill would not only establish the framework needed to create a centralized state database, but it also creates a self-sufficient funding source.”
The bill, S-3412, would require the DCA to create a database with an interactive map which would detail the extent of foreclosed properties in New Jersey. The database would be developed, maintained and updated daily, and would be required to be transmitted electronically.
The bill is a part of the larger Foreclosure bill package that Senator Singleton introduced in January.
The bill was released from committee by a vote of 12-0, and next heads to the full Senate for further consideration.