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NEW FORECLOSURE NOTIFICATION TO BE DISCUSSED

30 to 40 properties in town heading for foreclosure?

The rise in foreclosed homes has prompted the Township Committee to consider drafting an ordinance that would require foreclosed property to be registered with the township.

Mayor Vic De Luca said when such property is taken over by a bank or other owner, the township needs to know so it can keep tabs on issues such as residential upkeep.

"We are having a problem tracking down who is responsible for some of these foreclosures," he said. "There are at least a couple of dozen foreclosed homes and probably 30 to 40 that are in the process of going to foreclosure."

Under discussion Tuesday night will be a new law requiring the township to be notified when a foreclosure is done, De Luca said. Currently, such notification is not required.

"If someone walks away from their house, there is no requirement for notification," he said. "Sometimes it take months for us to be notified."

While property taxes are often paid promptly, issues such as upkeep and other township ordinances for homeowners are sometimes neglected with no known owner for the township to contact. "This will force those banks and mortgage companies to list with us."

 

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