N.J. Admin. Code § 5:41-2.3

Current through Register Vol. 57, No. 1, January 6, 2025

Section 5:41-2.3 - Levels of assistance

(a) The Homelessness Prevention Program shall apply available funds so as to provide assistance to as many people in need of such assistance as possible. Assistance to any one person or household shall not exceed the minimum amount necessary to obtain habitable lodging or to avoid imminent eviction or foreclosure.

(b) Where there is any reasonable prospect of repayment, funds shall be advanced as a loan rather than as a grant, upon such terms as the Department of Community Affairs shall consider reasonable and appropriate in light of prevailing interest rates and the applicant's present and future ability to repay.

1. Loans shall be evidenced by a note and, if the applicant owns real property, secured by a mortgage. The form and content of the note and mortgage shall be prescribed by the Department of Community Affairs.

N.J. Admin. Code § 5:41-2.3

Amended by R.2008 d.66, effective 4/7/2008.
See: 39 N.J.R. 4986(a), 40 N.J.R. 1827(b).
In the introductory paragraph of (b) and in (b)1, substituted "Department of Community Affairs" for "Bureau of Housing Services".