All Roll Calls
Yes: 115 • No: 0
New JerseyS3670220th Legislature (2024-2025)SenateWALLET
Provides for mortgage payment relief and foreclosure protection for certain homeowners impacted by remnants of Hurricane Ida.
Sponsored By: Yvonne Lopez (Democratic), Angela V. McKnight (Democratic), Troy Singleton (Democratic), Benjie E. Wimberly (Democratic)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Foreclosure pauses for Ida homeowners
During a valid payment pause under this law, mortgage servicers cannot send foreclosure notices or start foreclosure on covered homes. This protection excludes vacant or abandoned properties and properties covered by the specified abandoned-property law. Deadlines in foreclosure cases filed before October 30, 2024, stop running until the payment pause ends. Courts must also pause an existing foreclosure case when a storm-impacted homeowner applies and shows good cause; a forbearance certificate qualifies. Court requests generally must be filed before April 1, 2025, unless the court allows more time. A court-ordered pause ends one year after its initial award or January 1, 2026, whichever comes first.
Mortgage payment relief for Ida homeowners
Effective October 30, 2024, eligible New Jersey homeowners can pause mortgage principal and interest for up to one year after certification. They must have an existing mortgage on their primary home, including a home made unlivable by Ida. They must also have a qualifying Homeowner Assistance and Recovery Program denial tied to flood-hazard exclusions, a Mitigation Assistance Program application or pending award, or a Blue Acres invitation. Most specified federal loans are excluded, including Fannie Mae, Freddie Mac, FHA, VA, and USDA loans. An exception covers certain forbearances granted before federal servicing coverage began. The Department of Community Affairs must publish instructions within 60 days and open online applications within 90 days of enactment. Complete applications are due within 30 days after the system opens, with proof of eligibility, mortgage documents, and a sworn verification statement. The department must decide applications within 90 days after the filing period ends and allow 15 days to fix incomplete applications. A complete application left undecided for 90 days automatically qualifies for certification. Homeowners must send their certificate to their mortgage servicer. Paused payments are not forgiven: they become equal monthly payments during a loan extension matching the pause, unless paid sooner. Homeowners still owe property taxes, insurance, and upkeep, and can end relief anytime by written notice to their servicer.
Fee safeguards for Ida mortgage relief
Servicers cannot charge fees, including attorney’s fees, related to covered mortgage relief or late payments during the pause and repayment extension. They also cannot impose early-repayment penalties during either period or discriminate on grounds protected by New Jersey’s Law Against Discrimination. Certified homeowners denied relief by a state-licensed servicer can complain to the Department of Banking and Insurance. The department must investigate and order relief when appropriate; filing a complaint does not guarantee approval. Servicers must report forbearances to the department monthly, or as otherwise required, with personal identifying information removed. They must also give the court clerk required case numbers, party names, and property addresses; these reports are government records under state public-records law. The state can cancel certificates based on false or misleading statements, but homeowners have hearing rights.
Sponsors & Cosponsors
Sponsors
Yvonne Lopez
Democratic • House
Angela V. McKnight
Democratic • Senate
Troy Singleton
Democratic • Senate
Benjie E. Wimberly
Democratic • Senate
Cosponsors
Carmen F. Amato Jr.
Republican • Senate
Douglas J. Steinhardt
Republican • Senate
Britnee N. Timberlake
Democratic • Senate
Andrew Zwicker
Democratic • Senate
Roll Call Votes
Senate vote • 10/28/2024
3RDG FINAL PASSAGE
Yes: 40 • No: 0
House vote • 10/28/2024
3RDG FINAL PASSAGE
Yes: 75 • No: 0
Actions Timeline
Approved by Governor — P.L.2024, c.85.
10/30/2024GovernorPassed Assembly, PBH — (75-0-0)
10/28/2024HouseSubstituted for A4871 (1R)
10/28/2024HouseReceived in Assembly, Without Reference, 2nd Reading in Assembly
10/28/2024HousePassed Senate — (40-0)
10/28/2024SenateREP/SCA, 2nd Reading in Senate
10/7/2024SenateReferred to Senate Budget and Appropriations Committee
9/30/2024SenateReported, 2nd Reading in Senate
9/30/2024SenateIntroduced, 1st Reading in Senate, Referred to Senate Community and Urban Affairs Committee
9/26/2024Senate
Bill Text
Version PL2024
11/27/2024
Version AL2024
11/7/2024
Senate Budget and Appropriations (10/7/24 1R)
10/29/2024
10/21/24; 1R
10/21/2024
Senate Budget and Appropriations Substitute (10/7/24)
10/8/2024
10/7/24; as introduced
10/7/2024
As Introduced
10/1/2024
Senate Community and Urban Affairs Substitute (9/30/24)
10/1/2024
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