Authorizes HMFA to make certain reimbursements to support pre-purchase homebuyer counseling under Foreclosure Mediation Assistance Program.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill allows the New Jersey Housing and Mortgage Finance Agency (HMFA) to provide financial support to counselors who offer pre-purchase homebuyer counseling services. It expands the existing Foreclosure Mediation Assistance Program to include this type of counseling, aiming to help potential homebuyers avoid foreclosure. The goal is to provide early intervention and prevent mortgage delinquency and default. This expansion will likely increase the program's overall costs.
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