Protecting Your Home Through the Cares Act
According to an article in CPA Practice Adviser, 79% of U.S. adults are experiencing stress from financial instability during Covid-19. However, it’s good to know your home is safe during this time.
On March 19, 2020, Governor Murphy announced Executive Order No. 106 which prohibits removing individuals from their homes pursuant to an eviction or foreclosure proceeding while the Order is in effect.
New Jerseyans are given a one-year mortgage forbearance and/or a sixty-day foreclosure and eviction ban. This Order is extended up until two months after Governor Murphy announces the end of Covid-19. If unsure whether a financial institution has agreed to provide mortgage forbearance/assistance and financial protection under The CARES Act, www.state.nj.us has provided a list of those that have.
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