Downey, Houghtaling Bill to Ease Burden of Mortgage Payments for Active Duty Military Signed into Law

Legislation sponsored by Monmouth County Assembly Members Eric Houghtaling and Joann Downey to allow members of the military to defer mortgage loan payments temporarily while they deployed on active duty has been signed into law.

The new law (A-766) will allow a New Jersey resident called to mobilization for federal active duty as a reservist of the Armed Forces of the United States or a member of the National Guard to request a suspension of the payment of the interest and principal on a mortgage loan that he or she secured before entering federal active duty. The deferment would remain in effect while the person remains in service on active duty and for 60 days after his or her release from active duty.

"No one who risks his or her life for the freedom of the United States of America should come back and worry about losing a home," said Downey (D-Monmouth). "This law acknowledges veterans' reasonable need for sufficient time to get things in order once they return."