New Jersey S1098 provides mortgage and rent payment relief, eviction protection, and consumer reporting safeguards for economically impacted.
New Jersey S1098 offers protections for residential property owners and tenants during the COVID-19 pandemic. It mandates mortgage forbearance for homeowners who have suffered income reductions due to the pandemic, prohibiting creditors from reporting missed payments to credit agencies. The bill also extends the repayment period for missed mortgage payments and prohibits late fees. For tenants, it prevents evictions for non-payment during the emergency period and requires landlords to offer repayment plans for missed rent.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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