Superstorm Sandy News

N.J. Commissioner Commends Banks for Accelerating Payments of Insurance Proceeds

New Jersey’s top insurance regulator this week commended the actions of New Jersey community banks, national banks and servicers — including Wells Fargo Bank, JPMorgan Chase, Bank of America, and CitiMortgage. The regulator said these financial institutions continue to pursue …

Sandy-Damaged Homes Hit Market at Bargain Prices

It sounds like the premise for a new reality TV series: “Hurricane House” — people scouring waterside communities looking to buy homes damaged by Superstorm Sandy at a deep discount. While there are bargains out there, ranging from 10 percent …

Conn., N.J. and N.Y. Lawmakers Decry Sandy Cuts

Three Democratic members of Congress from Connecticut, New Jersey and New York are voicing concerns about automatic federal budget cuts that will trim federal Superstorm Sandy aid. In a conference call on Friday, March 8, Connecticut Rep. Rosa DeLauro said …

FBI in New Jersey Watching for Sandy Fraud

The FBI in New Jersey is watching to ensure that federal money meant to rebuild after Superstorm Sandy doesn’t find its way into the pockets of corrupt politicians or scam artists. The Federal Emergency Management Agency says $2.5 billion in …

N.Y. Gov. Cuomo Announces Review of Banks for Post-Sandy Mortgage Practices

New York Gov. Andrew Cuomo announced that the state’s financial regulators will review post-Sandy mortgage practices by banks and mortgage servicers. The review is intended to examine whether homeowners who were impacted by Superstorm Sandy and were allowed more time …

Report Questions Insurer Readiness, Attitudes on Climate Change

A report out Thursday that details responses to a climate change survey from insurers doing business in California, Washington and New York shows many insurers are prepared to deal with today’s extreme weather events, but not longer-term “baseline changes” driven …

New Jersey Finds 124 Unregistered Post-Sandy Contractors

New Jersey inspectors have found 124 unregistered contractors doing work on homes damaged by Superstorm Sandy since January. Investigators with the state Division of Consumer Affairs in Atlantic, Ocean and Monmouth counties contacted nearly 630 contractors to ensure they are …

Ex-DEP Boss: Buy Out Flood-Prone New Jersey Homes

As New Jersey lawmakers consider a package of bills to help the state recover from Superstorm Sandy, a former New Jersey environmental protection commissioner says the storm provided a golden opportunity to buy out flood-prone homes and move them further …

Superstorm Sandy Battered the Poor Hardest, Studies Show

Superstorm Sandy punished low-income people in New York and New Jersey, especially renters who are now at risk of being unable to find new homes, according to a pair of studies released on Wednesday said. Forty-three percent of the 518,000 …

Connecticut Homeowners Face Stark Choices After Sandy

Jackie Beagon loved her life along the Connecticut coast, where she and her husband walked to the beach and church and bicycled around the neighborhood. But Superstorm Sandy ripped it all apart, and the couple was forced to sell their …