NJ Foreclosure Relief Law Raises Questions for Lenders, Servicers
February 13, 2009
A New Jersey law designed to maximize foreclosure avoidance and assistance to distressed borrowers is raising a host of problems for mortgage lenders and servicers, according to compliance experts. Enacted Jan. 9, the “Mortgage Stabilization and Relief Act,” establishes two new programs to help at-risk borrowers avoid foreclosures and gives certain borrowers a six-month forbearance...