Homeowner Assistance Fund

==> JANUARY 2024 UPDATE: New Jersey’s Emergency Rescue Mortgage Assistance (ERMA) program provides financial assistance for eligible homeowners who have experienced a significant decrease of income or increase of expenses due to COVID-19 and have been unable to remain current with their mortgage payments. Eligible homeowners can apply for up to $75,000 per household to cover mortgage reinstatement assistance and other eligible housing related costs, including delinquent property taxes and HOA dues. See
https://nj.gov/dca/hmfa/erma/hub/index.shtml or
https://njerma.com/

==> FEBRUARY 2022 UPDATE: The Homeowner Assistance Fund (HAF) is a $9.961 billion federal program to help households who are behind on their mortgages and other housing-related expenses due to the impacts of COVID-19 https://www.consumerfinance.gov/about-us/blog/homeowner-struggling-to-make-payments-due-to-pandemic-help-available-or-coming-soon/

==>OCTOBER 2021 UPDATE: Deadline to request initial forbearance for HUD/FHA, USDA, or VA backed loans is extended until National Emergency ends: https://www.consumerfinance.gov/about-us/blog/deadline-request-initial-forbearance-hud-fha-usda-va-backed-loans-extended-until-national-emergency-ends/

==> AUGUST 2021 UPDATE: A new rule goes into effect on August 31, 2021, that helps ensure your mortgage servicer is providing meaningful opportunities for you to avoid foreclosure and stay in your home. If you’re not in forbearance, mortgage relief options may still be available through your mortgage servicer. Details at: https://www.consumerfinance.gov/about-us/blog/new-mortgage-servicing-rule-aims-to-prevent-avoidable-foreclosures-as-protections-expire/

==> July 2021 UPDATE: The federal foreclosure moratoria are set to expire July 31st, and lenders and mortgage servicers can start foreclosing on homes as soon as August 1st. Homeowners who are behind on their mortgages must act now to save their homes. https://www.consumerfinance.gov/about-us/blog/we-have-resources-help-avoid-foreclosure/
In the coming weeks and months, many protections that were set up to protect consumers during the COVID-19 pandemic will expire. Start working with your mortgage servicer now to prevent foreclosure – the longer you wait, or the further you fall behind on your payments, the harder it will be to find a solution. For help and info, see
https://www.consumerfinance.gov/about-us/blog/as-foreclosure-protections-end-time-to-work-with-your-mortgage-servicer/

==> December 2020: Many homeowners now have more time to seek forbearance and avoid foreclosure as deadlines have been extended. These protections are available to homeowners with mortgages backed by federal government agencies or the government sponsored agencies, Fannie Mae and Freddie Mac.
https://www.consumerfinance.gov/about-us/blog/mortgage-relief-deadlines-extended/