New JerseyNew Jersey may repay counselors who guide future homebuyers
New Jersey's housing finance agency may use its foreclosure counseling fund to repay trained counselors who help people before they buy homes.
What it does
Counselors who help people prepare to buy a home may receive repayment from the state housing agency. Their counseling must follow the agency's guidelines.
Argument forCounseling before a purchase could help buyers understand mortgage costs and may help them avoid missed payments later.
Argument againstPaying for homebuyer counseling from this fund could leave less money for counselors helping people with mortgage trouble or disaster damage.
More detail
The New Jersey housing finance agency may reimburse trained counselors for helping people before they buy a home. It covers counseling before a home purchase by counselors trained to help borrowers avoid foreclosure or manage mortgage trouble. The counseling must follow the agency's guidelines. Reimbursements come from the New Jersey Foreclosure Counseling Fund. This authority took effect on July 22, 2026, when the law was approved.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jul 22Approved P.L.2026, c.54.Became Law
- Jun 30Passed Senate (Passed Both Houses) (40-0)Passed 2nd Chamber
- Vote recorded 3RDG FINAL PASSAGE. Result: pass.Lower
- Vote recorded 3RDG FINAL PASSAGE. Result: pass.Upper
- Jun 30Substituted for S4331
- Jun 30Received in the Senate without Reference, 2nd ReadingMinor
- Jun 30Passed by the Assembly (78-0-0)Passed 1st Chamber
- Jun 23Reported out of Assembly Committee, 2nd ReadingMinor
- Vote recorded Reported favorably out of committee. Result: pass.Lower
- Jun 8Reported and Referred to Assembly Appropriations CommitteeMinor
- Vote recorded Reported favorably out of committee. Result: pass.Lower
- Jun 1Introduced, Referred to Assembly Housing CommitteeIntroduced
Housing