A5427

Permits senior citizens to designate third parties to receive notices of delinquent mortgage or property tax payments.

New Jersey A5427 allows senior citizens aged 65 or older to designate a third party to receive notifications if they are late on mortgage or property tax payments. The designated third party can be notified by email or regular mail. For mortgage payments, the financial institution must issue a notice when the payment is due and a second notice if the grace period lapses. For property taxes, the tax collector must issue a notice when the payment is due and a second notice if the payment remains delinquent 10 days later.