state_legiscan_drain · NJ
Permits senior citizens to designate third party to be notified of delinquency in payment of mortgage or property taxes.
Summary
If enacted, this bill would allow senior citizens to designate a third party to receive notifications of delinquency in mortgage or property tax payments. Lenders and servicers would be required to honor such designations and notify the designated party when a delinquency occurs. This affects banks, servicers, and other mortgage actors that handle borrower accounts.
AI-generated summary · Jul 10, 2026. Verify with your compliance counsel before acting.
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Source: https://www.njleg.state.nj.us/bill-search/2026/A5427
Common questions
- What does "Permits senior citizens to designate third party to be notified of delinquency in payment of mortgage or property taxes." cover?
- If enacted, this bill would allow senior citizens to designate a third party to receive notifications of delinquency in mortgage or property tax payments.…
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