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.
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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.
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