Housing (Mortgages) in New Jersey

in committee · New Jersey · Senate Jun 18, 2026

S 4476: Revises tax lien foreclosure process to require return of surplus equity in all circumstances, requires appointment of guardian ad litem for certain persons during foreclosure proceeding.

This bill updates New Jersey's tax lien foreclosure rules to ensure that any leftover money, known as surplus equity, is returned to property owners in all situations. It also mandates that a court-appointed guardian be assigned to protect the interests of minors, individuals with intellectual disabilities, or those legally declared incapacitated who live in homes facing foreclosure. Additionally, the legislation requires tax lien holders to sell properties through a judicial process similar to mortgage foreclosures to preserve owner equity, rather than using internet auctions where surplus funds might be lost. These changes directly affect tax collectors, lienholders, and vulnerable residents involved in tax sale proceedings.

Topics ✓ Housing

Sub-Topics Mortgages

in committee · New Jersey · General Assembly Jun 15, 2026

A 5281: Requires DMVA to provide mortgage loan counseling under certain circumstances.

This bill requires the New Jersey Department of Military and Veterans' Affairs to offer mortgage loan counseling to veterans applying for home loans guaranteed by the federal G.I. Bill. Under the new rules, lenders must provide a specific form confirming that eligible applicants have been offered these counseling services, which include a review of loan terms and other relevant information. The program is designed to assist veterans in understanding the conditions of their housing loans, and it applies to all residents of New Jersey who have been honorably discharged from the armed forces.

Topics ✓ Housing ✓ Veterans

Sub-Topics Mortgages Veteran Education Veteran Housing Veteran Mental Health

in committee · New Jersey · Senate May 14, 2026

S 4244: Requires multiple dwelling building owners to provide notice to tenants and tenant associations of certain sales and provides tenant association with opportunity to purchase multiple dwelling.

This New Jersey bill requires owners of multiple dwelling buildings to notify tenants and tenant associations before selling the property. It specifically mandates notice for sales to affiliates, short sales, or deeds in lieu of foreclosure, ensuring residents are informed of these transactions. If at least 51% of the occupied units are represented by a tenant association, the group gains the right of first refusal to purchase the building. The law also defines how tenant associations can form successor entities, such as cooperatives or joint ventures, to facilitate the acquisition and maintain affordable housing standards.

Topics ✓ Housing

Sub-Topics Affordable Housing Mortgages Tenant Rights

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

A 4936: Establishes Whole-Home Repairs Program in HMFA; appropriates $25 million.

This bill creates a new Whole-Home Repairs Program within the New Jersey Housing and Mortgage Finance Agency to provide financial assistance for home improvements. The program targets low-income homeowners and landlords with fewer than ten properties who need repairs for safety, accessibility, or energy efficiency. Eligible homeowners may receive grants, while eligible landlords can access loans that become forgivable if they agree to limit rent increases for at least two years. The legislation also mandates that construction workers be paid prevailing wages and gives priority to seniors, people with disabilities, and those facing immediate health risks. A total of $25 million is appropriated to fund these grants and loans.

Topics ✓ Energy ✓ Housing

Sub-Topics Energy Efficiency Housing Finance Mortgages Renters

in committee · New Jersey · Senate Jun 1, 2026

S 4372: "Affordable Housing Insurance Stabilization Act"; establishes program within HMFA to provide financial assistance to qualified affordable housing property experiencing material insurance cost increases; appropriates $25 million.

This bill creates a program within the New Jersey Housing and Mortgage Finance Agency to help affordable housing properties facing significant insurance rate hikes. To qualify for financial aid, a property must experience a cumulative insurance cost increase of at least 40% within 24 months and demonstrate that it has exhausted its own savings. The $25 million fund established by the bill will provide grants of up to $250 per unit annually, with a maximum of $1 million per project, to cover these increased costs. Recipients of the funds must agree to keep the buildings safe and compliant, maintain affordability restrictions, and submit annual reports on how the money was used. The program prioritizes housing for very low-income families, those with disabilities, and properties facing financial distress or expiring affordability rules.

Topics ✓ Budget & Taxes ✓ Housing

Sub-Topics Affordable Housing Housing Finance Mortgages

in committee · New Jersey · Senate May 14, 2026

S 4249: Requires certain State housing assistance offices to provide voter registration forms.

This bill requires New Jersey housing assistance offices to provide voter registration forms to eligible individuals. Specifically, it mandates that offices within the Department of Community Affairs and the New Jersey Housing and Mortgage Finance Agency, which help people secure housing vouchers, rentals, or mortgages, make these forms available. The legislation updates existing state laws to include these housing agencies alongside public libraries and other government offices that already distribute registration materials. By adding these locations to the list of designated sites, the bill aims to expand opportunities for residents to register to vote while clarifying that the Secretary of State, rather than the Attorney General, oversees election administration.

Topics ✓ Housing ✓ Immigration

Sub-Topics Housing Finance Mortgages Tags Elections

signed · New Jersey · General Assembly Jul 22, 2026

A 5169: 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. 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.

Topics ✓ Housing

Sub-Topics Homeownership Housing Finance Mortgages

in committee · New Jersey · Senate May 14, 2026

S 4276: Revises process for titling certain mobile and manufactured homes.

This bill updates the process for titling mobile and manufactured homes in New Jersey to help owners who permanently attach their homes to land they own. It establishes a new "affidavit of affixture," which is a sworn statement confirming that the home is installed for permanent use on property where the owner holds title. Once this affidavit is recorded with the county, the state will cancel the home's vehicle-style certificate of ownership and allow the home to be treated as part of the real property for mortgage purposes. The legislation requires the Motor Vehicle Commission to create specific rules for this process and does not change how these homes are taxed.

Topics ✓ Housing

Sub-Topics Mortgages

in committee · New Jersey · General Assembly May 18, 2026

A 5118: Extends foreclosure protections for certain homeowners impacted by remnants of Hurricane Ida.

This bill extends foreclosure protections for homeowners in New Jersey who were affected by the remnants of Hurricane Ida. It allows eligible homeowners to apply for a forbearance, which pauses mortgage payments, by submitting an application to the Department of Community Affairs. To qualify, applicants must prove they are storm-impacted homeowners with a mortgage on their primary residence and provide specific documentation. If approved, the forbearance period lasts for two years, giving borrowers time to recover financially without facing immediate foreclosure actions.

Topics ✓ Housing

Sub-Topics Mortgages

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

All housing bills