News

12/19/2014

Affordable Housing Alliance Becomes Administrative Agent for Borough of Red Bank

Red Bank, NJ- The Affordable Housing Alliance (AHA) recently became the administrative agent for the borough of Red Bank, NJ. Red Bank is implementing a program to provide affordable housing units, qualified by the Council on Affordable Housing (COAH), to low and moderate income households. AHA will be responsible for overseeing the rental and/or sale of 77 units throughout Red Bank. Currently, the Borough has future, affordable housing resale opportunities in the Bergen Square condominiums and new, affordable for sale units in the Cedar Crossing townhomes. Presently, 17 new and newly renovated rental units are under construction within the Lofts At Red Bank and various scattered site locations throughout the Borough. Applicants must provide sufficient documentation of gross income and assets so that AHA is able to determine the eligibility of the tenants. AHA is also a HUD certified housing counseling agency. Our counseling services are free and offered to anyone who is interested in receiving one on one counseling or education on subjects such as budgeting, credit issues, mortgage qualifications, down payment assistance, rental lease requirements, and landlord/tenant law. Many of the housing units are currently under construction, but there are units available now. If you are interested in applying for a Red Bank housing unit, contact the Affordable Housing Alliance at 732-389-2958 for information. A lottery will take place to select the residents.  

12/16/2014

New Jersey has Highest Percentage of Foreclosures in the Nation among Mortgaged Homes

Although first place is the ultimate goal in many situations, when it comes to foreclosure rates, it’s an unwelcome victory. According to CoreLogic, a leading provider in real estate data, New Jersey has the highest percentage of foreclosures among mortgaged homes at 5.5 percent. New York and Florida tied for second place at 4.1 percent. New Jersey also had the highest serious delinquency rate at 9.1%, according to the report, again surpassing both Florida and New York. Yet, overall the country’s foreclosure rate is dropping. The recent report states that 605,000 homes in the United States were in some stage of foreclosure as of October, 2014, compared to 875,000 homes in October, 2013, a 30 percent decrease. So why are foreclosure rates decreasing nationwide, but increasing here in New Jersey? One reason for this is New Jersey’s foreclosure process, says Affordable Housing Alliance foreclosure counselor, Linda Osborn.  

12/11/2014

Affordable Housing Alliance Fiscal Year 2013 Impact Report from NeighborWorks

Last year, AHA helped 37 families and individuals become homeowners. Three hundred thirty seven individuals and families were provided counseling and education. Learn more about our impact in the community with this infographic.  

© 2014 Affordable Housing Alliance|59 Broad St. Eatontown, NJ 07724 Phone: 732-389-2958

94 Broad St., Eatontown, NJ 07724|20 Gibson Place, Suite 200 , Freehold NJ 07728|1828 West Lake Ave., Neptune NJ 07753



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