Gov Christie Announces More Buyouts Of Flood-Prone Properties

Gov Christie Announces More Buyouts Of Flood-Prone Properties

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Governor Christie announced more buyouts of flood-prone properties.

The Governor was in South River, Middlesex County. He said applications have been received from 79 interested property owners. and buyout offers had been made to 129 people in nearby Sayreville. They're being offered the pre-storm values of their properties.

"Most people's homes are paid off or have very low mortgage so it's not a problem. There are a few occasions where people are upside down on their mortgage and we've gotta deal with those," says Governor Christie. "Sometimes we'll make up the difference if it's a little difference. If it's a large difference it becomes a different problem overall."

New Jersey is planning to buy about 1,300 properties that repeatedly flood. The federal government is paying three-quarters of the tab.

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