NJ A3154

Borrowers with "high risk mortgages" (including interest-only, subprime, negative amortization, or high-cost loans) may request a six-month forbearance period after receiving a foreclosure summons, during which the lender must halt all foreclosure proceedings and freeze the interest rate

Borrowers must submit a written forbearance request within 30 days of receiving the foreclosure complaint, and during forbearance must participate in the Judiciary's Foreclosure Mediation Program or other mediation/settlement discussions

Attorneys filing foreclosure complaints must include a "certification of diligent inquiry" confirming they communicated with plaintiff employees who verified document accuracy, reviewed case facts, and attached the original promissory note with debt calculation methodology

Lenders must certify to the court that they own the mortgage and note, did not use "robo-signing" practices on documents, and must identify all parties with interests affected by the foreclosure

Courts must allow evidentiary hearings upon debtor request, admit only proper evidence, verify plaintiff ownership of the mortgage, and refuse to proceed if a foreign trust claiming note interest is not registered to do business in New Jersey