Authorizes HMFA to make certain reimbursements to support pre-purchase homebuyer counseling under Foreclosure Mediation Assistance Program.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- 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 these counseling services, aiming to help potential homebuyers avoid foreclosure. The goal is to provide early intervention and prevent mortgage delinquency and default. This expansion will increase the program's overall costs.
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