Corzine says NJ needs help stopping foreclosures

October 24, 2008 12:33PM

New Jersey Governor Jon Corzine said yesterday the state needs more
federal aid to keep foreclosures from spreading to the suburbs. The federal government should devote more than the planned $40 billion of
bailout money to help struggling homeowners, he said. In New Jersey, one in every 453 homes is in foreclosure, slightly higher than
the national average of one out of every 475 homes. Newark, Camden and Edison, three New Jersey cities, rank in the top half of the country’s largest metropolitan areas in foreclosure rates.

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