NJCA applauds Murphy’s moratorium on mortgage payments, looks forward to more details on measures
Newark— New Jersey Citizen Action (NJCA) today released the following statement on Governor Phil Murphy’s announcement of a moratorium of mortgage payments as well as financial protections for New Jerseyans facing economic hardship as a result of the COVID-19 pandemic.
“By working with banks to provide a grace period for mortgage payments, Governor Murphy has provided yet another lifeline for New Jerseyans facing loss of income and jobs because of the COVID19 crisis.,” said Beverly Brown Ruggia, New Jersey Citizen Action Financial Justice Organizer. “First Governor Murphy imposed the moratorium on evictions for foreclosures and now he has secured a grace period for mortgage payments, freezing fees and foreclosure proceedings and sales, while also protecting homeowners’ credit.
“These measures exemplify responsive leadership and are critical to keeping people in their homes. We look forward to seeing more details on these proposals. We especially need to ensure that reasonable and affordable repayment terms are required and that the freezes are coordinated with a property tax payment plan. We don’t want countless New Jerseyans waking up on day 91 to find that they immediately have to come up with four months’ worth of mortgage and tax payments. NJCA also calls on the State Legislature to codify these measures and to move forward with similar relief for renters.”
New Jersey Citizen Action is a statewide advocacy and social service organization that fights for social, racial and economic justice for all while also meeting the pressing needs of low and moderate income New Jerseyans through education and direct service.