Housing (Mortgages) in New Jersey

in committee · New Jersey · General Assembly May 28, 2026

A 5125: Permits mortgage forbearance of 180 days for borrowers whose primary residence is in State-declared disaster area.

This bill allows homeowners in New Jersey whose primary residences are located in Governor-declared disaster areas to pause their mortgage payments for 180 days. To qualify, borrowers must request forbearance from their lender, who is required to approve the request within 15 business days without charging any penalties, fees, or interest during this period. The bill also permits borrowers to extend the pause for another 180 days and mandates that missed payments be repaid later through loan extensions, modifications, or a final lump-sum payment at the end of the loan term.

Topics ✓ Housing

Sub-Topics Mortgages

in committee · New Jersey · Senate May 14, 2026

S 4279: Provides disparate impact based on automated decision system as cause of action for certain consumers.

This New Jersey bill expands civil rights protections by allowing individuals to sue if automated systems used in housing or lending unfairly discriminate against them. It defines "automated decision systems" broadly to include artificial intelligence and algorithms used for tasks like mortgage approvals, tenant screening, and rental pricing. Under the law, companies using these tools must prove their systems do not negatively impact protected groups, such as those defined by race, age, or disability, and they face liability if they cannot show a legitimate reason for the disparity or if a less discriminatory alternative exists. To ensure ongoing compliance, covered entities are required to conduct algorithmic impact assessments at least every two years and keep records available for review by state officials.

Topics ✓ Criminal Justice ✓ Housing ✓ Technology

Sub-Topics Civil Rights Mortgages Artificial Intelligence

in committee · New Jersey · Senate May 14, 2026

S 4235: Permits mortgage forbearance of 180 days for borrowers whose primary residence is in State-declared disaster area.

This bill allows homeowners in New Jersey whose primary residences are located in Governor-declared disaster areas to pause their mortgage payments for up to 180 days. To qualify, a borrower must request this forbearance from their lender, who is required to approve the request within 15 business days. During the pause period, lenders cannot charge penalties, fees, or interest, and borrowers have the option to extend the pause for another 180 days. After the forbearance ends, the missed payments must be repaid through loan extension, loan modification, or a deferred payment due at the end of the loan term.

Topics ✓ Housing

Sub-Topics Mortgages

in committee · New Jersey · General Assembly May 7, 2026

A 4921: Requires certain State housing assistance offices to provide voter registration forms.

This bill requires specific New Jersey housing assistance offices to provide voter registration forms to the public. It directly affects agencies within the Department of Community Affairs and the New Jersey Housing and Mortgage Finance Agency that help people obtain housing vouchers, rental housing, or mortgage loans. By adding these offices to the list of "public agencies" mandated by state law, the measure ensures that individuals seeking housing support can access registration materials at their point of contact. The legislation also updates the text to reflect that the Secretary of State, rather than the Attorney General, oversees election administration.

Topics ✓ Housing

Sub-Topics Housing Finance Mortgages Renters Tags Elections

in committee · New Jersey · Senate Jun 30, 2026

S 4331: Authorizes HMFA to make certain reimbursements to support pre-purchase homebuyer counseling under Foreclosure Mediation Assistance Program.

This bill authorizes the New Jersey Housing and Mortgage Finance Agency to provide reimbursements to qualified counselors for offering pre-purchase homebuyer counseling services. The legislation expands the existing Foreclosure Mediation Assistance Program, which currently funds counselors who help homeowners facing foreclosure or mortgage difficulties, to also include those assisting potential homebuyers before they purchase a property. By creating a dedicated funding account, the bill ensures that these counselors can receive payment for their work in providing early intervention education aimed at preventing future mortgage delinquency and foreclosure. This change directly affects homeowners and renters seeking guidance on buying a home as well as the counseling agencies that deliver these services.

Topics ✓ Housing

Sub-Topics Homeownership Housing Finance Mortgages

in committee · New Jersey · Senate May 14, 2026

S 4246: Establishes Whole-Home Repairs Program in HMFA; appropriates $25 million.

This bill creates the Whole-Home Repairs Program within the New Jersey Housing and Mortgage Finance Agency to provide financial assistance for home improvements. It targets low-income homeowners and small landlords by offering grants to owners and forgivable loans to landlords who agree to limit rent increases for at least two years. The program specifically funds repairs for accessibility, safety, energy efficiency, and weatherization, with priority given to seniors, people with disabilities, and those facing immediate health risks. A total of $25 million is appropriated from the state's General Fund to support these efforts while ensuring that construction work pays prevailing wages.

Topics ✓ Budget & Taxes ✓ Energy ✓ Housing

Sub-Topics State Budget Energy Efficiency Housing Finance Mortgages Tenant Rights

in committee · New Jersey · General Assembly May 11, 2026

A 5026: Requires organizations providing services to homeless persons to participate in Homeless Management Information System to track occupancy of shelter beds.

This bill requires organizations that provide services to homeless individuals in New Jersey to join the Homeless Management Information System to track shelter bed occupancy. It establishes an Office of Homelessness Prevention within the Department of Community Affairs to coordinate services and manage data from state, county, and municipal agencies. The legislation also allows for the transfer of the Homeless Management Information System from the New Jersey Housing and Mortgage Finance Agency to the new office and provides funding to help organizations cover the costs of participation.

Topics ✓ Housing

Sub-Topics Homelessness Housing Finance Mortgages

in committee · New Jersey · Senate Mar 23, 2026

S 4047: Concerns housing discrimination based on source of lawful income.

This bill amends New Jersey's anti-discrimination laws to explicitly prohibit housing discrimination based on the source of a person's lawful income used for rent or mortgage payments. It directly affects landlords, property managers, and other housing providers by adding "source of lawful income" to the list of protected characteristics alongside race, disability, and other existing categories. The legislation requires housing providers to treat applicants fairly regardless of where their income comes from, as long as it is legally earned. This change expands existing civil rights protections to ensure people cannot be denied housing solely because of how they earn their money.

Topics ✓ Housing

Sub-Topics Mortgages Renters Tenant Rights

in committee · New Jersey · Senate Mar 5, 2026

S 3735: Extends foreclosure protections for certain homeowners impacted by remnants of Hurricane Ida.

This bill extends foreclosure protections for homeowners in New Jersey who were impacted by Hurricane Ida by allowing them to apply for a forbearance period on their mortgage payments. To qualify, homeowners must meet specific criteria including having a mortgage on their primary residence and submitting an application with required documentation to the Department of Community Affairs. Once approved, eligible homeowners receive a certification that pauses foreclosure proceedings for up to two years, giving them time to recover financially from storm damage. The bill also establishes a clear application process with timelines for review and includes provisions for appeals if an application is denied.

Topics ✓ Housing

Sub-Topics Mortgages

passed · New Jersey · General Assembly Jun 11, 2026

A 4106: Clarifies mortgage loans to mean loans made primarily for personal, family, or household purposes.

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.

Topics ✓ Housing

Sub-Topics Mortgages

All housing bills