New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 65 - RULES FOR MORTGAGE FORBEARANCE FOR SANDY-IMPACTED HOMEOWNERS
Subchapter 1 - RULES FOR MORTGAGE FORBEARANCE FOR SANDY-IMPACTED HOMEOWNERS
Section 5:65-1.4 - Application and review process
Current through Register Vol. 56, No. 18, September 16, 2024
(a) All Sandy-impacted homeowners may file an application with the Department requesting a Certification of Eligibility for Forbearance. Any such application must be filed with the Department by no later than May 31, 2017.
(b) Applications shall be filed utilizing the Department's online system. Instructions for filing will be provided by the Department on its website as of March 31, 2017. Applicants shall be required to file with the Department proof of current mortgage obligation and may be asked to supply additional documentation. Applicants will also be required to complete the certifications required by N.J.A.C. 5:65-1.7.
(c) If the Department's review indicates that the application or supporting documentation is not complete or is deficient, the Department shall provide notice that explains why the application is incomplete and/or deficient. The homeowner shall be permitted to resubmit the application.
(d) The Department shall have a period of 30 days from the date the application is submitted to conduct its review of the application. If an application is incomplete and/or deficient pursuant to (c) above, the applicant will have the opportunity to resubmit. Upon re-submission, the 30-day review period will begin again.
(e) If the Department fails to act on an application within the 30 days, the applicant shall be deemed to have satisfied the eligibility criteria. The applicant may request that the Department issue a Certification of Eligibility for Forbearance in such cases.
(f) If the applicant meets all eligibility criteria, the Department shall issue a Certification of Eligibility for Forbearance.
(g) If the Department issues a Certification of Eligibility for Forbearance pursuant to (e) or (f) above, the Department shall also notify the Administrative Office of the Courts and the appropriate mortgage lender as that entity is identified by the applicant in his or her application.
(h) If the Department determines, within the 30-day review period, that an applicant does not meet the eligibility criteria, it shall advise the applicant accordingly, along with an explanation and information on the applicant's ability to appeal.
