Lawmakers are contemplating a invoice to assist owners who might have been overpaid by the federal government for Superstorm Sandy reduction. After the storm ravaged the state’s shoreline almost a decade in the past, many householders accepted federal catastrophe reduction funds to assist rebuild their homes. Now, the federal authorities says some folks had been paid an excessive amount of and it desires that cash again. But many of the funds have already been spent repairing and elevating broken properties.
The invoice would enable New Jersey’s Department of Community Affairs to arrange a 60-month fee plan for owners who had been overcompensated, permitting them to make month-to-month funds of as a lot or as little as they select. It would additionally enable low- to moderate-income owners to request to have some or all of their debt lowered and provides the DCA authority to waive money owed beneath sure circumstances.
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