Establishes the "New Jersey Residential Foreclosure Transformation Act."
Take action
Record your position on this measure.
Create an account to take a stance, submit a written position, 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, the ‘New Jersey Residential Foreclosure Transformation Act,’ aims to reform the state’s foreclosure process to provide greater protections for homeowners facing foreclosure. It establishes a new, streamlined process that prioritizes loan modification and other alternatives to foreclosure before initiating a judicial sale. The act also requires lenders to provide homeowners with more detailed information about their options and to offer assistance with financial counseling. Ultimately, the goal is to reduce the number of foreclosures in New Jersey and help homeowners avoid losing their homes.
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
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