The most recent iteration of the Federal Emergency Management Agency's flood maps detailed a drastic reduction in V zones for Monmouth, Ocean, Atlantic, and Hudson counties. Structures in V zones are more likely to face high breaking waves, and therefore must be built on pilings at higher elevations.
Bankruptcy can be a life-changing event for individuals and families who have to file in order to seek debt relief. However, for many corporations here in New Jersey, struggling with debt is something that is constantly wrestled with. For those who are unable to cover costs, pay wages for employees or have other financial hardships, filing for Chapter 7 bankruptcy is one option that can offer some legal protection against creditors.
When people file for bankruptcy, it can be a real load off the mind to know that real debt relief is right around the corner. However, it is crucial to follow all the steps laid out by the bankruptcy court until the process is formalized and approved. One man whose filing has raised a lot of eyebrows recently had his bankruptcy case dismissed because he failed to meet some court-required deadlines for filing paperwork.
While the economy is slowly improving in the wake of the recession, many homeowners are still struggling in the aftermath of the housing crisis. This is particularly true in New Jersey, where nearly eight percent of homes are behind on mortgage payments. Compared to all other states, New Jersey has the second most homes in foreclosure.