While more than 95 percent of Sandy-related insurance claims in New Jersey have been settled and paid, thousands of homeowners have not started rebuilding yet for a variety of reasons, but a new program will offer many of them assistance.

Governor Chris Christie sits in studio with Eric Scott for the June edition of "Ask the Governor." (Photo by Dino Flammia, Townsquare Media)

During last night's 'Ask The Governor Show,' Gov. Chris Christie said a new $780 million federal grant program will begin in July.

"The deadline for the first wave of applications is the end of this week."

He pointed out homeowners will be eligible to receive up to $150,000 for a variety of rebuild, renovate and elevate projects, "So people need to get their claims in."

Christie said it may turn out the program is "over-subscribed," running out of money, but additional funds from the feds will be forthcoming in October, so some homeowners may get deferrals on their applications. But they won't be receiving denials.

"We'll go through the process after this week, after the applications are closed," said Christie. "We'll have everybody's application in- and we'll go forward in a randomization type selection process."

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