New Jersey A349 establishes a loan program for first-time homebuyers in areas with high numbers of abandoned properties.

New Jersey A349 would establish a loan program for first-time homebuyers who move to parts of the State with the highest numbers of abandoned properties. The program would provide interest-free, deferred second mortgage loans to eligible applicants to cover the cost of qualified repairs to residential properties in eligible areas. Eligible applicants must meet at least four of the seven criteria, including having completed a degree program, being employed or seeking employment, and committing to volunteering.

New Jersey A349 establishes a loan program for first-time homebuyers in areas with high numbers of abandoned properties.

New Jersey A349 would establish a loan program for first-time homebuyers who move to parts of the State with the highest numbers of abandoned properties. The program would provide interest-free, deferred second mortgage loans to eligible applicants to cover the cost of qualified repairs to residential properties in eligible areas. Eligible applicants must meet at least four of the seven criteria, including having completed a degree program, being employed or seeking employment, and committing to volunteering.