Establishes mortgage assistance program for benefit of certain low- and moderate-income homeowners; appropriates $200 million.

This bill (A 1456) establishes a $200 million mortgage assistance program for low- and moderate-income homeowners in New Jersey who face imminent risk of homelessness due to qualifying economic hardships (like job loss, medical issues, or death of a family member). It provides zero-interest, forgivable loans in four tiers: "deep" subsidies for those missing three+ payments, "moderate" for any delinquency, "shallow" for imminent risk, and "single" for at-risk homeowners. Homeowners must use the home as their primary residence for three years and complete mandatory counseling on budgeting and home finance to qualify for loan forgiveness. The program targets homeowners with incomes at or below 80% of their local median household income.