A5118

Extends foreclosure protections for certain homeowners impacted by remnants of Hurricane Ida.

New Jersey A5118 extends foreclosure protections for certain homeowners impacted by remnants of Hurricane Ida. The bill extends the mortgage forbearance period from one year to two years for storm-impacted homeowners. It also extends the stay in foreclosure proceedings to two years or until January 1, 2027, whichever comes first. Homeowners must apply for a Certification of Eligibility for Forbearance with the Department of Community Affairs to qualify for these protections.