Housing

This bill authorizes the New Jersey Housing and Mortgage Finance Agency to provide reimbursements to qualified counselors for offering pre-purchase homebuyer counseling services. By expanding the existing Foreclosure Mediation Assistance Program, the legislation aims to help potential homebuyers avoid future financial difficulties before they occur. The funding mechanism involves a dedicated state account that reimburses counselors for their work, which also continues to support pre-foreclosure and disaster-related assistance. This change applies to homeowners and renters who receive guidance from trained professionals to prevent mortgage delinquency and foreclosure.

This bill clarifies that a "mortgage loan" refers specifically to loans made primarily for personal, family, or household purposes, secured by residential properties (1-6 dwelling units). It directly affects homebuyers and renters with standard mortgages by exempting these loans from prepayment penalties, meaning borrowers can pay off their loans early without extra fees. The key mechanism updates the legal definition to ensure consumer loans (not commercial ones) cannot include prepayment penalties, while allowing such fees for commercial mortgage loans. This applies to all new mortgage loans entered into after the bill's effective date.

This bill requires New Jersey's Bureau of Housing Inspection to create a 24/7 toll-free hotline and a statewide database for public housing residents to report health, safety, or living condition issues. The hotline must offer English and Spanish support, protect caller anonymity, and provide referrals. The database will track verified complaints by facility, complaint types, corrective actions taken, and response times, then publish this data online for public access. It directly affects residents in public housing covered under the federal Housing Act of 1937, aiming to improve transparency and accountability in addressing housing conditions.

This bill (A2127) prohibits electric and gas public utilities in New Jersey from charging residential tenants in multi-unit dwellings (like apartments) a meter-reading fee that exceeds the actual cost of their electricity or gas usage for a billing cycle. It specifically targets fees charged to customers who have opted out of smart meter installation and require manual meter readings. The law sets a clear cap: utilities cannot charge more for manual readings than the customer’s regular utility usage cost. This applies directly to renters in shared housing who choose manual metering, ensuring fees align with actual consumption rather than arbitrary charges.

This bill (A3586) requires New Jersey's Division of Purchase and Property to create an annual report analyzing all state-owned real property for potential use as affordable housing. The report must inventory all state-owned land and buildings, including those held by agencies or authorities, and assess feasibility for low- and moderate-income housing development under existing law. The Division must submit this report to the Governor and Legislature within 13 months of the bill's effective date, then annually thereafter, and post it online. The bill directly affects state agencies managing property and requires them to systematically evaluate underutilized assets for housing opportunities.