New Jersey S4331 authorizes HMFA to reimburse counselors for pre-purchase homebuyer counseling.

New Jersey S4331 amends the Foreclosure Mediation Assistance Program to include pre-purchase homebuyer counseling. The New Jersey Housing and Mortgage Finance Agency (HMFA) will reimburse trained counselors for these services, which aim to reduce foreclosure incidences. The bill expands the existing program to include early intervention prepurchase counseling services. The New Jersey Foreclosure Counseling Fund will cover these reimbursements, with up to five percent of annual allocations for administrative costs.

New Jersey S4331 authorizes HMFA to reimburse counselors for pre-purchase homebuyer counseling.

New Jersey S4331 amends the Foreclosure Mediation Assistance Program to include pre-purchase homebuyer counseling. The New Jersey Housing and Mortgage Finance Agency (HMFA) will reimburse trained counselors for these services, which aim to reduce foreclosure incidences. The bill expands the existing program to include early intervention prepurchase counseling services. The New Jersey Foreclosure Counseling Fund will cover these reimbursements, with up to five percent of annual allocations for administrative costs.