Governor Signs Legislation to Extend Superstorm Sandy Foreclosure Protections

Gov. Phil Murphy Friday signed legislation to extend for three years foreclosure protections and mortgage relief programs for homeowners impacted by Superstorm Sandy, which were originally set to expire on July 1, 2019.  

“Superstorm Sandy affected all New Jerseyans, but some of our residents are still suffering the impacts of that terrible storm,” said Gov. Murphy. “It is our responsibility to protect our neighbors and friends from any continued financial fallout and to keep these families in their homes. I thank the legislative sponsors and advocates for their leadership in standing up for Sandy-affected homeowners.”

“Superstorm Sandy left a tremendous scar on New Jersey, which is why we must continue to provide our impacted homeowners every affordance possible to help them finish the process of rebuilding and getting back in their homes,” said Lieutenant Governor Sheila Oliver, who also serves as Commissioner of the Department of Community Affairs. “Extending mortgage forbearance will help prevent foreclosures and assist the remaining families experiencing extreme hardship after the storm.”

The new law (A5096) extends the mortgage forbearance and foreclosure proceeding stay protections, originally enacted and signed into law in 2017, until July 1, 2022 or one year following the issuance of a certificate of occupancy, which typically indicates a return to the home.