Title 55, Title 55: TENEMENT HOUSES AND PUBLIC HOUSING

55:14K-85 Definitions relative to "Mortgage and Neighborhood Stabilization Financing Assistance Program." 4. As used in sections 4 through 7 of P.L.2008, c.127 (C.55:14K-84 et seq.) and sections 4 and 5 of P.L.2009, c.334 (C.55:14K-86.1 and C.55:14K-86.2): "Affordable mortgage pa…

55:14K-86 Mortgage and Neighborhood Stabilization Assistance Program, Fund. 5. There is established in the New Jersey Housing and Mortgage Finance Agency a Mortgage and Neighborhood Stabilization Financing Assistance Program and Mortgage and Neighborhood Stabilization Financing A…

55:14K-86.1 Certain funds used for acquisition, rehabilitation of certain properties. 4. The agency shall set aside all $10,800,000 of the funds appropriated to the Mortgage and Neighborhood Stabilization Financing Assistance Program Fund to be used for the purpose of financing t…

55:14K-86.2 Regulations. 5. Notwithstanding any provision of P.L.1968, c.410 (C.52:14B-1 et seq.) to the contrary, the agency may adopt immediately upon filing with the Office of Administrative Law such regulations as the agency deems necessary to implement the provisions of this…

55:14K-86.3 Additional uses for funds. 7. In addition to the uses specified for the Mortgage and Neighborhood Stabilization Financing Program Fund created by section 5 of P.L.2008, c.127 (C.55:14K-86) the agency shall use up to $2,200,000 in that fund to make grants to qualified …

55:14K-87 Rules, regulations. 6. The agency is authorized to promulgate rules and regulations, pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to effectuate this program. L.2008, c.127, s.6.

55:14K-88 Short title. 8. Sections 8 through 14 of P.L.2008, c.127 (C.55:14K-88 et seq.) shall be known and may be referred to as the "New Jersey Housing Assistance and Recovery Program." L.2008, c.127, s.8.

55:14K-89 Definitions relative to "New Jersey Housing Assistance and Recovery Program." 9. As used in sections 9 through 14 of P.L.2008, c.127 (C.55:14K-89 et seq.): "Affordable rent" means monthly rent or lease payments that do not exceed 33% of the household's monthly average g…

55:14K-9. Housing sponsors; action or proceeding by agency to enforce rights; appointment of receiver; reorganizations a. The agency may institute any action or proceeding against any housing sponsor receiving a loan under the provisions hereof, or owning any housing project here…

55:14K-90 Housing Assistance and Recovery Program Support Fund. 10. a. There is established in the New Jersey Housing and Mortgage Finance Agency a Housing Assistance and Recovery Program (HARP) Support Fund, for the purpose of providing support and aid to any sponsor who establi…

55:14K-91 Execution of lease-purchase agreement. 11. A sponsor who receives monies from the fund and the homeowner shall execute a lease-purchase agreement, not to exceed a term of 36 months, that includes the following: a. The terms and conditions under which the sponsor shall c…

55:14K-92 Notification relative to noncompliance of sponsor. 12. The Department of Community Affairs shall notify the agency in the event a sponsor fails to maintain compliance with the department's certification process. L.2008, c.127, s.12.

55:14K-93 Rules, regulations. 13. The commissioner and the agency are authorized to promulgate rules and regulations, pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to effectuate this program. L.2008, c.127, s.13.

55:14K-94 Short title. 1. This act shall be known and may be cited as the "New Jersey Foreclosure Prevention Act." L.2021, c.34, s.1.

55:14K-95 Findings, declarations relative to foreclosure prevention. 2. The Legislature finds and declares that: a. New Jersey experienced heightened foreclosure rates during the Great Recession beginning in 2008 and continuing for the ensuing decade, only returning to pre-recess…

55:14K-96 Definitions relative to foreclosure prevention. 3. As used in P.L.2021, c.34 (C.55:14K-94 et al.): "Agency" means the New Jersey Housing and Mortgage Finance Agency established pursuant to section 4 of P.L.1983, c.530 (C.55:14K-4). "Community development corporation" me…

55:14K-97 "New Jersey Residential Foreclosure Prevention Program." 4. a. There is established in the agency the "New Jersey Residential Foreclosure Intervention Program," which shall be subject to the powers of the agency, as designated pursuant to section 5 of P.L.1983, c.530 (C…

55:14K-98 Entry into contracts, loans. 5. a. (1) The agency may enter into contracts or loans, or both, with one or more foreclosure intervention contractors to negotiate, bid for, and purchase eligible properties and mortgage assets for the purpose of facilitating the program. I…

55:14K-99 Foreclosure Intervention Fund. 6. a. There is established within the agency a Foreclosure Intervention Fund, which shall be a non-lapsing, revolving fund and which shall be the repository for funds appropriated or otherwise made available for the purposes of P.L.2021, c…