October 16, 2008
By David M. Levitt
New Jersey plans to provide ``major sums'' to help homeowners avoid foreclosure, said Jerold Zaro, the state's new economic development chief.
The state will help groups buy and lease back homes and require mediation to assist those in danger of losing property to foreclosure, Zaro said at a speech in Teaneck today to a group of real estate executives. The state also will provide $10 million for home heating oil assistance and $2.5 million to food banks, he said.
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