Atlantic County, NJ, Sheriff Opposes State Law on Home Foreclosures

Atlantic County, New Jersey Sheriff Joe O’Donoghue is not afraid to take bold positions.

His latest is to publicly oppose a New Jersey state law that allows non profits to purchase home foreclosures without a proper, open and transparent bidding process.

O’Donoghue’s position is clear … the issue is whether or not the New Jersey law is unconstitutional.

New Jersey law allows nonprofit organizations to scoop-up a property that is up for auction at whatever the bank is owed.

It does not allow for bidding, and therefore gives the nonprofit all the equity from the person who has lost their property.

O’Donoghue believes that this is unconstitutional under the fifth amendment.

The Atlantic County Sheriff’s Department filed litigation against the state … to try to stop this practice from continuing.

O’Donoghue is mindful that some Atlantic County residents have lost their homes through No fault of their own.

O’Donoghue has a big problem people losing all of the equity in their homes their homes in this manner.

Now, newly formed 501(c)(3) organizations are taking these properties at a big discount from the bank and then they flip the properties for a huge profit.

The Atlantic County Sheriff’s Department has put a stop to it in their County Andrew have been told that other around around the state are now following O’Donoghue’s lead.

We have obtained a letter that has written by New Jersey Senator Britnee N. Timberlake from the 34th legislative district … along with a letter written by O’Donoghue.

We are publishing both letters (see below) in their entirety.

SOURCE: Atlantic County Sheriff’s Department.