New Jersey S3371 prohibits financial institutions from requiring disabled veterans to include property tax obligations in mortgage applications.

New Jersey S3371 aims to ease mortgage application processes for disabled veterans and their surviving spouses by prohibiting certain financial institutions from requiring them to include anticipated property tax obligations as part of mortgage applications. This bill applies to State-chartered banks, mortgage companies, and credit unions. It allows these institutions to not require the indication or disclosure of annual property tax obligations if the assessor certifies that the veteran or surviving spouse meets all eligibility requirements for the disabled veterans’ property tax exemption.

New Jersey S3371 prohibits financial institutions from requiring disabled veterans to include property tax obligations in mortgage applications.

New Jersey S3371 aims to ease mortgage application processes for disabled veterans and their surviving spouses by prohibiting certain financial institutions from requiring them to include anticipated property tax obligations as part of mortgage applications. This bill applies to State-chartered banks, mortgage companies, and credit unions. It allows these institutions to not require the indication or disclosure of annual property tax obligations if the assessor certifies that the veteran or surviving spouse meets all eligibility requirements for the disabled veterans’ property tax exemption.