Enhances access to foreclosure counseling services for homeowners in New Jersey.
This bill enhances access to foreclosure counseling services for homeowners in New Jersey by amending existing laws. It requires residential mortgage lenders to provide homeowners with a notice of intention to foreclose, including details on the default, the right to cure, and the deadline to avoid foreclosure. The New Jersey Housing and Mortgage Finance Agency (HMFA) must ensure that trained foreclosure prevention and default mitigation counselors contact homeowners to offer counseling services.
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