NJ A4871

Establishes mortgage forbearance program for homeowners whose primary residences were damaged by Hurricane Ida (September 2021) and who are participating in HARP, MAP, Blue Acres, or were denied HARP solely due to flood-hazard area restrictions

Requires the Department of Community Affairs to create an online application system within 90 days of enactment, with applications due within 30 days of the system becoming available; department must review applications within 90 days

Forbearance period lasts one year from certification issuance, during which mortgage principal and interest payments are suspended; homeowners remain responsible for property taxes, insurance, and maintenance

Extends mortgage repayment period by the number of months forbearance is in effect, with missed payments due monthly during the extension period; prohibits fees, penalties, or attorney's fees related to the forbearance

Prohibits mortgage servicers from initiating foreclosure or sending foreclosure notices during forbearance; allows storm-impacted homeowners in existing foreclosure proceedings to apply for a stay lasting up to one year or until January 1, 2026