New Jersey Statutes 2A:50-72. Supersedure
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Terms Used In New Jersey Statutes 2A:50-72
- Forbearance: A means of handling a delinquent loan. A
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
6. The provisions of any regulation, ordinance, rule, or resolution of any municipality, county or other subdivision of the State, or any agency or instrumentality of that municipality, county or other subdivision, relating to foreclosure practices, or the extension, delay, forbearance or imposition of moratorium periods concerning foreclosures, are superseded by the provisions of the “Save New Jersey Homes Act of 2008,” P.L.2008, c.86 (C. 46:10B-36 et seq.) and the forbearance and nuisance abatement provisions of the “Mortgage Stabilization and Relief Act,” P.L.2008, c.127 (C. 55:14K-82 et al.).
L.2009, c.296, s.6.