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Phil Murphy Signed Executive Order Allowing Renters To Use Security Deposits As Payment

Phil Murphy Signed Executive Order Allowing Renters To Use Security Deposits As Payment

Hot97 Staff
04/25/2020 12:00 AM EDT
New Jersey Governor Phil Murphy signed an executive order today (April 24) that gives a huge break to renters. In a Tweet, he wrote that people who rent their home will be able to use their security deposits to pay their rent, whether to make up for missed payments or to pay it in full. He also said, “We recognize that federal rules allow lenders to ask for skipped payments up-front, and we are pushing to have those rules changed.”Murphy also Tweeted out that through NJ DCA, they’re setting up an online FAQ area that will serve as a guide for rights and responsibilities for tenants and landlords. He added, “everyone will have access to the same information, so there can be no more misunderstandings.”Gov. Murphy also reminded landlords that if they requested a mortgage forbearance from their lender, they should extend that same favor to their own tenants as well. https://twitter.com/govmurphy/status/1253767809483575302?s=21https://twitter.com/govmurphy/status/1253768052686106626?s=21https://twitter.com/govmurphy/status/1253768534762627079?s=21