Flood

New Jersey Governor Calls for Sweeping Foreclosure Moratorium 

New Jersey Gov. Jon Corzine on Monday called for a three-to-six-month forclosure moratorium — a temporary pause during which severely delinquent loans cannot enter the foreclosure process — while government officials implement mass loan modification systems. “We need a bottom up approach to modifying mortgages one home at a time,” Corzine said. “It’s going to be be messy, but you got to get on the ground level.”