Lawmakers are considering a bill to help homeowners who may have been overpaid by the government for Superstorm Sandy relief. After the storm ravaged the state’s coastline nearly a decade ago, many homeowners accepted federal disaster relief funds to help rebuild their houses. Now, the federal government says some people were paid too much and it wants that money back. But most of the funds have already been spent repairing and elevating damaged homes.
The bill would allow New Jersey’s Department of Community Affairs to set up a 60-month payment plan for homeowners who were overcompensated, allowing them to make monthly payments of as much or as little as they choose. It would also allow low- to moderate-income homeowners to request to have some or all of their debt reduced and give the DCA authority to waive debts under certain circumstances.
