state_legiscan_drain · NJ
Permits mortgage forbearance of 180 days for borrowers whose primary residence is in State-declared disaster area.
May 28, 2026
Summary
If enacted, this bill would require mortgage servicers to grant a 180-day forbearance to borrowers whose primary residence is in a state-declared disaster area. The forbearance must include no late fees or negative credit reporting during the period. Lenders and servicers would need to implement procedures for borrowers to request forbearance and document disaster eligibility.
AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.
How this was generated
We record the exact prompt, model, and output for every AI response so it can be audited for accuracy.
Source: https://www.njleg.state.nj.us/bill-search/2026/A5125
Common questions
- What does "Permits mortgage forbearance of 180 days for borrowers whose primary residence is in State-declared disaster area." cover?
- If enacted, this bill would require mortgage servicers to grant a 180-day forbearance to borrowers whose primary residence is in a state-declared disaster…
- When was it published?
- It was published on May 28, 2026.
Related updates
- Budget Finance Co. - New Martinsville, WV ORDER
- Mortgagee Letter 2026-06: Increase in the Maximum Number of Draw Requests for Limited 203(k) Rehabilitation Mortgage Insurance Program
- Ocwen Financial Corp. order issued by the Division of Banking and find answers to frequently asked questions. (order)
- Mortgagee Letter 2026-03: Updates to Bidding at Foreclosure and Post-Foreclosure Sales Efforts
- Agreed Order
- Mortgagee Letter 2026-09: Eliminating Unnecessary Requirements for FHA Mortgagee Approval and Quality Control