New Jersey S1443 provides mortgage payment relief and foreclosure protection for homeowners impacted by Hurricane Ida.
New Jersey S1443 establishes mortgage payment relief and foreclosure protection for homeowners impacted by the remnants of Hurricane Ida. Homeowners who suffered financial damage due to the hurricane and obtained federal disaster assistance can request a mortgage forbearance from their servicer. The forbearance suspends mortgage payments for up to one year, with the missed payments added to the mortgage term. Homeowners in foreclosure can apply for a stay in proceedings if they meet the forbearance criteria.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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