New Jersey passed a bill codifying the state’s Foreclosure Mediation Program (Program). Under the bill, the Program applies to a foreclosure action involving an owner-occupied 1-to 4- dwelling unit residence, one of which is occupied (or planned to be occupied) by the borrower or a member of the borrower’s immediate family. The requirements of the codified Program are substantially similar to the foreclosure mediation program requirements currently set forth in New Jersey’s court rules. The bill also amended the required content of the “notice of intention to foreclose.” The bill went into effect November 1, 2019.
See New Jersey Legislature website for the full text of the Statutes:
