New Jersey Statutes 46:10B-2. Prepayment of mortgage loan without penalty
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Terms Used In New Jersey Statutes 46:10B-2
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
Prepayment of a mortgage loan may be made by or on behalf of a mortgagor at any time without penalty.
L.1968, c. 54, s. 2, eff. June 6, 1968. Amended by L.1973, c. 297, s. 1, eff. Dec. 6, 1973; L.1975, c. 87, s. 1, eff. May 8, 1975; L.1979, c. 85, s. 3, eff. May 10, 1979; L.1979, c. 253, s. 2, eff. Dec. 21, 1979.