Permits mortgage forbearance of 180 days for borrowers whose primary residence is in State-declared disaster area.
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill provides a 180-day mortgage forbearance option for homeowners in New Jersey whose primary residence is located in a disaster area declared by the Governor. Borrowers can request forbearance from their mortgage lender, and the lender must approve the request within 15 business days. During the forbearance period, no penalties, fees, or interest will accrue, and repayment can be structured through loan extensions, modifications, or deferred payments at the end of the loan term.
Bill text
Read the latest version inline or switch to a previous version.
Document of record
- Version
- Introduced
- Published
- Not published in the source record
This version is published only as a document. Open the viewer to read it here, or download the file.
Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsors
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours