TRENTON – Gov. Phil Murphy and Lt. Gov. Sheila Oliver announced the upcoming launch of the Emergency Rescue Mortgage Assistance Program (ERMA), administered by the New Jersey Housing and Mortgage Finance Agency (NJHMFA) Jan. 24.
This program will provide up to $35,000 in assistance to cover mortgage arrearages, delinquent property taxes, and other housing cost delinquencies for eligible homeowners negatively impacted by the Covid pandemic.
New Jersey’s program utilizes $325.9 million of federal Homeowner Assistance Fund (HAF) money, and is expected to help thousands of families get back on their feet, stabilizing New Jersey’s most at-risk communities.
Foreclosures don’t just hurt the family experiencing them. They negatively impact the surrounding properties in their neighborhood and hurt their larger community. This assistance offers struggling families a lifeline, and can make other loss mitigation options, such as refinancing, viable.
“We are pleased to announce this new program that will alleviate COVID-19 related housing insecurity for thousands of New Jersey families,” said Governor Murphy. “ERMA is a powerful addition to our portfolio of measures to prevent foreclosures and help New Jersey homeowners stay in their homes.”
ERMA will also provide free housing counseling services to help New Jersey homeowners apply for this program, guide them through all available options, and even work with their loan servicers to achieve the best outcome available for their family. These counselors will also ensure that the process is accessible to those without access to internet or those having difficulties navigating the process.
The ERMA application portal will open for applications at: www.njerma.com on February 8, 2022 at 9AM.
Visit www.njhousing.gov/dca/hmfa/covid19/haf to review program eligibility and sign up for program updates.
To qualify for the ERMA program, homeowners must meet the following requirements:
- Be a New Jersey homeowner with a demonstrated COVID-19-related financial hardship occurring after January 20, 2020;
- Own and occupy an eligible primary residence;
- Have an income below 150% of their Area Median Income (AMI).
NJHMFA will provide the centralized application intake platform, eligibility review, and payment of assistance, which will be made directly to the servicer.
ERMA applications can be submitted using a personal computer, laptop, smartphone, or tablet. Housing counselors are available to assist homeowners that need help completing the application or understanding all available options.
NJHMFA will work to accommodate homeowners with disabilities as well as to assist applicants with limited English proficiency. The application portal is available in many languages. Applicants seeking accommodations should contact NJHMFA at (855) 647-7700 for assistance.
