SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for small businesses and private non-profits. “The coronavirus has turned life upside down, shuttered businesses, and left particularly low-income workers wondering how they will make ends meet. 10 West Lafayette Street Trenton, NJ 08608-2002. During the past few months, associations, and by extension association collection attorneys, have been faced with a collection roadblock in that the County Sheriffs have placed a moratorium on all foreclosure sales and the Governor’s Executive Order No. Concurrent to … The bill also applies the 17 investment prohibition to entities involved in mortgage foreclosures 18 during extensions of those moratoria and during periods of lapses in 19 extensions of a moratorium. Again, while the NJ foreclosure process can proceed, evictions cannot take place during the eviction moratorium. 106, which imposes such a moratorium. City Council passed legislation providing renters with a defense to evictions occurring within six months of the termination of the mayor's eviction moratorium. 106, which imposes such a moratorium. “This outbreak affects all of us and we are all in this together,” said Governor Murphy. How to Handle Debt After Dropping Out of College, New Jersey Fair Debt Collection Practices Act, the rules for filing for bankruptcy twice. Governor Sheila Oliver, who serves as DCA Commissioner. The protections were originally set to expire on June 30. However, the moratorium extension only apples to single-family homes with Fannie Mae– and Freddie Mac–backed mortgages. The Governor then immediately signed Executive Order No. “Governor Murphy and I understand that this is an extremely stressful time, especially for our most vulnerable residents who are experiencing homelessness or facing eviction,” said Lt. I Missed a Credit Card Payment! The moratorium has been extended each month keeping the protection in place to protect New Jersey tenants. IMPORTANT: Lenders cannot begin a new foreclosure proceeding on a single family, federally backed mortgage until August 31—although this date may be extended. “It is unsettling to think a family could be evicted or asked to leave their home due to foreclosure proceedings at this time,” said Assembly Sponsors Angela McKnight and Benjie Wimberly. This move will ensure that no renter or homeowner is removed from their residence while this Order is in effect. LOW-INCOME HOME ENERGY ASSISTANCE PROGRAM (LIHEAP) Division of Codes and Standards. 3859 was sponsored by Assemblymembers Angela McKnight, Holly Schepisi, and Benjie Wimberly, and Senators Joseph Cryan and Nellie Pou. That being said, you are still expected to pay your electric, gas, and water bills. This moratorium applies to tenants subject to eviction by landlords and home owners subject to removal from their homes following a sheriff sale upon foreclosure. Executive Order 106 was issued by NJ Governor Murphy in March. Phil Murphy today outlined a series of steps underway to help aid those in immediate financial need and keep people in their homes during the crisis, including actions to protect residents from eviction or foreclosure that are as expansive as any in the nation. Change ), You are commenting using your Google account. WASHINGTON - Today, the Federal Housing Administration (FHA) announced a two-month extension of its foreclosure and eviction moratorium through August 31, 2020, for homeowners with FHA-insured Single Family mortgages. Moratorium applies to tenants and homeowners. the moratorium on evictions and foreclosures has been extended until august 1. governor desantis signed the order just hours ago. This extension provides an additional 4 months of housing security to … The State of NJ site may contain optional links, information, services and/or content from other websites operated by third parties that are provided as a convenience, such as Google™ Translate. Unless the moratorium is extended, it will expire on October 31. The moratorium applies to single-family homeowners with mortgages insured by the Federal Housing Administration (FHA), a part of HUD that … The eviction moratorium states (with rare exception) that no homeowner can legally be removed from their home due to NJ foreclosure … It would be cruel to allow people to be forced out of their homes due to circumstances beyond anyone’s control, such as the pandemic. If you own a one-to-four unit residential building, federal servicers are required to allow you a 180-day grace period for mortgage payments, along with an additional 180-day extension. As you may know in response to COVID-19, the CARES Act places a 150-day moratorium ending on July 25, 2020 on any evictions of a tenant for properties secured by a “federally backed mortgage” which includes mortgages insured by FHA, VA, USDA and any mortgage purchased or securitized by Fannie Mae or Freddie Mac. “We are working diligently at DCA to maintain quality services for the homeless, our tenants, and landlords as we respond to the threat of COVID-19.” DCA has taken a number of actions to meet the ongoing needs of its clients and to curb evictions and homelessness during the state of emergency. The eviction moratorium states (with rare exception) that no homeowner can legally be removed from their home due to NJ foreclosure at this time. While DCA field offices are closed to the public to observe social distancing protocols, DCA encourages current participants to utilize the online portal at assistancecheck.com to submit documents, or to submit documents through the mail. ***If you do not have a federally backed mortgage, your lender can initiate foreclosure actions now.***. If you have lost some or all of your income over the last few months and are worried about losing your home, there is some good news. Counselors will provide upfront assistance to help homeowners avoid potential foreclosure. Details regarding the SBA loan program can be found online at: https://faq.business.nj.gov/en/articles/3789809 More information on SBA disaster loans can also be found at https://disasterloan.sba.gov/ela/ To further aid both homeowners and renters facing hardship, the New Jersey Housing and Mortgage Finance Agency is expanding its Foreclosure Mediation Assistance Program (FMAP) to include renter and pre-foreclosure counseling utilizing a network of participating housing counselors in each county. Eviction Moratorium. Filed under COVID-19, foreclosure, foreclosure defense, Mortgages, NJ foreclosure by veitlaw And yet, unlike the eviction ban, the Housing Stability Act wasn’t given a floor vote after being presented. For a list of housing counselors participating in FMAP, visit: https://njhousing.gov/foreclosure At the Department of Community Affairs, rental assistance programs continue to operate and fulfill all core business functions, including paying rents to landlords and processing recertifications, income redeterminations, and other core functions. Post was not sent - check your email addresses! We know how to negotiate with lenders, utility companies, and landlords, and when it comes to helping our clients out of debt, we’ve seen it all. 5:23 … Finally, in related efforts to help with the financial cost of COVID-19, the governor announced today the New Jersey Higher Education Student Assistance Authority (HESAA) will offer assistance to those who need help making regular payments to NJCLASS student loans due to a diminished income. Most uncontested foreclosures will be processed fully. What can I do if my mortgage is not federally backed? Most uncontested foreclosures will be processed fully. Finance. Legislation is pending that would extend residential foreclosure protections until 60 days after the end of the state’s state of emergency. Applications for these relief options are available at https://www.hesaa.org/Documents/Relief%20Options/Unemployment.pdf  and https://www.hesaa.org/Documents/NJCLASSTempDisabilityForm.pdf In addition, NJCLASS borrowers can apply for financial hardship relief. Extensions to filing personal and corporation taxes. Counseling is free of charge. The federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, which President Trump signed into law on March 27, 2020, imposed a 60-day foreclosure moratorium starting March 18, 2020 for federally backed mortgage loans. Per HUD, earlier today, on August 28, 2020, the Federal Housing Administration (FHA) announced the 3rd extension of its foreclosure and eviction moratorium through December 31, 2020, for homeowners with FHA-insured single family mortgages covered under the Coronavirus Relief and Economic Security (CARES) Act. Create a free website or blog at WordPress.com. Continued to offer language access services to clients who need them. The Foreclosure Office administers parts of most foreclosure cases and manages most of the process when a foreclosure is “uncontested,” meaning that the homeowner did not file an answer to the complaint. Loans may be used to pay fixed debts, payroll, accounts payable, and other bills that can’t be paid because of the disaster’s impact. Suspended terminations for non-essential reasons (those not involving violence and/or threats to others) in the Section 8 Housing Choice Voucher (HCV) and State Rental Assistance Program (SRAP); Extended the housing search period for all current voucher holders to the full 120 days allowed by the U.S. Department of Housing and Urban Development (HUD) for those without disabilities or who are not elderly for the housing search period. The agency said it will extend the moratoriums on single-family foreclosures and real estate owned (REO) evictions until at least December 31, 2020. An … The one-month extension, while providing some relief for homeowners, is ultimately delaying the inevitable that will come early next … Phil Murphy’s request for a disaster designation, opening up access to the SBA’s Economic Injury Disaster Loan program to New Jersey businesses hit hard by the COVID-19 pandemic. August 24, 2020 During this time, you cannot be charged fees, penalties, or interest on top of what you would normally accrue. On Dec. 2, the Federal Housing Finance Agency announced that the foreclosure moratorium would extend from Dec. 31 to Jan. 31, 2021. A federal eviction moratorium ends this week, putting 12 million tenants at risk . 5:23-2.18), and Certificate requirements (N.J.A.C. Change ), You are commenting using your Facebook account. Together, we will get through this public health crisis.” “I applaud the Governor’s swift action in signing this bill into law in the midst of the expanding coronavirus crisis,” said Senator Joseph Cryan. Fannie and Freddie ended that moratorium after the initial 90 days while FHA extended its moratorium another 90 days, through the end of February 2018. HESSA will review these applications with greater flexibility considering the impact of COVID-19. These executive declarations and court orders provide important relief in a crisis that will lead to severe health and financial consequences for many homeown… Call your utility servicer to try to work out a repayment plan if you are at risk of not being able to make your regular payments. NJEDA is currently in the process of scaling up local technical assistance programs to help New Jersey businesses apply for SBA assistance. New Jersey is stepping in to prevent anyone from being evicted from their home or having their home foreclosed upon during the coronavirus outbreak … These actions come a day after the U.S. Department of Housing and Urban Development, Fannie Mae, and Freddie Mac would be suspending all foreclosures and evictions for at least 60 days. Current program participants may email or call the field offices or the customer service line at 609-292-4080 or email: customer.service@dca.nj.gov to leave messages with questions. HUD to extend foreclosure ban protecting 8.1 million people until 2021. Enter your email address to follow this blog and receive notifications of new posts by email. Order 106 states that “Any lessee, tenant, homeowner or … The national eviction moratorium is running out. All court hearings for contested foreclosures are being held remotely via phone or internet. Seattle: Yes: until 3/31/2021-Seattle mayor ordered extension of moratorium on residential evictions through March 31, 2021. it was set to expire at midnight. What Happens After My Foreclosure is Finalized? New Jersey Business & Industry Association. All court hearings for contested foreclosures are being held remotely via phone or internet. These loans provide vital economic support to help overcome the loss of revenue caused by COVID-19. Again, while the NJ foreclosure process can proceed, evictions cannot take place during the eviction moratorium. The New Jersey Economic Development Authority will continue to lead coordination between the SBA and businesses in our State. FORECLOSURE MORATORIUM INFORMATION. The user is on notice that neither the State of NJ site nor its operators review any of the services, information and/or content from anything that may be linked to the State of NJ site for any reason. The list may not be complete, as state and local governments continue to adopt new emergency measures at a fast pace. 106 (“Order 106”) halted evictions as a result of a foreclosure action. Even if you cannot pay now, these payments will need to be made later. Change ). The NJCLASS loan application for financial hardship relief is available at https://www.hesaa.org/Documents/Relief%20Options/Financial%20hardship.pdf Copy of Executive Order No. In an effort to help keep non-profit service providers viable and operating during this emergency, begun working to provide advances on existing contracts to providers addressing emergent needs. Of equal note is that as of March of this year, NJ’s electric and gas utility providers agreed to suspend utility shut-offs. On July 6, the Chief Justice of the state Supreme Court extended the state’s judicial emergency until August 6. Seven states have moratoriums that will expire by early-November if not extended: Connecticut, Delaware, Maine, Wisconsin, Colorado, and Arkansas. Veitengruber Law has years of experience helping NJ homeowners save their homes from foreclosure. The moratorium applies to the initiation of foreclosures AND foreclosures already in process. Some companies have sent out shut-off notices, but so far companies seem to be holding off on actual shut-offs. ( Log Out /  This means that an additional 20.5 million people may lose protection from utility shut offs between now and early-November. It has: DCA reminds residents who are in need of emergency housing assistance, please call 2-1-1 .For residents who do not have emergent needs, but would like to find out if they are eligible to apply for any of DCA’s assistance programs, they should visit DCA’s online anonymous screening tool: www.nj.gov/dca/dcaid. Consumers and their advocates should carefully review the scope of the measures adopted in their states. Citing concerns over the economic impact of the coronavirus shutdown, the Federal Housing Finance Agency (FHFA) has extended the national moratorium on … Extension Through August 31, 2020, Provides More Security for Homeowners Impacted by the Coronavirus Outbreak. 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