New Jersey Public Advocate, Commissioner of Banking and Insurance:
Tenants in foreclosed properties have rights – cannot be evicted due to foreclosure under NJ law

 NEWARK –In response to numerous complaints of tenants living in foreclosed properties being forced out of their homes, New Jersey Public Advocate Ronald K. Chen and New Jersey Department of Banking and Insurance Commissioner Steven M. Goldman will announce efforts to protect residents from these cases of illegal evictions.

 The event will be held on Tuesday, December 23 at 10:45 a.m. at the Stratford Building on 510 Avon Avenue in Newark, NJ (parking lot is available directly across the building on S. 20^th Street).

 Surrounded by local advocacy groups and renters affected by foreclosures, Chen and Goldman will clarify what laws exist to protect tenants, as well as where to go for help.

 In addition, they will warn that real estate professionals and attorneys involved in this process may be subject to disciplinary action affecting their professional licenses if they intentionally mislead tenants.

 Residents cannot be evicted solely because the property where they live is in foreclosure or has been foreclosed. In some cases, tenants are offered “cash for keys” agreements, where they are given money to turn in their keys and move out but without mentioning that they are also free to stay.  In other cases, they are just told they have to get out.