Menendez Bill Would Help Homeowners at Risk of Foreclosure Stay in Their Homes

As New Jersey continues to lead the nation in foreclosure rates – and specifically in “zombie” foreclosures – U.S. Senator Robert Menendez (D-NJ), Ranking Member of the Senate Subcommittee on Housing, Transportation and Community Development today introduced the Preserving American Homeownership Act, to help homeowners who are underwater on their mortgages remain in their homes. According to RealtyTrac, one out of every 594 New Jersey homes is in foreclosure.