Bergen County funds legal aid for seniors facing foreclosure

HACKENSACK -- Bergen County will help fund legal assistance for seniors facing foreclosure.

The Board of Chosen Freeholders on Wednesday dedicated $20,000 to allow the county Division of Senior Services to make and fund legal referrals for low-income seniors who have defaulted on reverse mortgages.

The funding expands the division's Home Equity Conversion Mortgage Counseling Program, which advises county residents over 62 on reverse mortgages. When seniors finish counseling, they get a certificate and are referred to a federally approved list of reverse mortgage lenders.

If they default, county counselors help review finances for seniors and present payment plans to lenders and the federal Department of Housing and Urban Development. The funding approved Wednesday allows the county to refer seniors to Northeast New Jersey Legal Services, a Hackensack organization that provides legal representation to low-income, elderly and disabled residents.

Attorneys with the organization can provide foreclosure assistance, legal filings and represent seniors at court appearances if lenders reject their payment schedules. The amount of funding should cover legal assistance for 22 low-income seniors in 2016 and 2017.

The program should help Bergen County seniors age in their homes, Freeholder Vice-Chairwoman Tracy Zur said.

"This program is a win-win, our seniors get to stay in their homes while continuing to pay property taxes, and our top-notch HECM Counseling staff offers them the best advice possible while keeping them safe from predatory lenders or unscrupulous financial services," she said.

The county reverse mortgage program has counseled more than 2,000 people over 10 years.

Myles Ma may be reached at mma@njadvancemedia.com. Follow him on Twitter @MylesMaNJ. Find NJ.com on Facebook.

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