A5118

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

New Jersey A5118 extends foreclosure protections for homeowners affected by Hurricane Ida. The bill extends the one-year mortgage forbearance to two years and modifies the end date of the forbearance period to January 1, 2027. Homeowners must apply for a Certification of Eligibility for Forbearance with the Department of Community Affairs. If eligible, they receive a forbearance from mortgage servicers and a stay in foreclosure proceedings. The bill takes effect immediately and is retroactive to January 1, 2026.