(Bloomberg) --
New Jersey governor Phil Murphy on Saturday announced a 90-day mortgage payment grace period for borrowers economically impacted by the coronavirus outbreak.
- “This grace period CANNOT and WILL NOT be used to downgrade anyone's credit rating,” he said on Twitter, adding that lenders will wave any late fees or other costs that might arise because of the grace period. “These financial institutions have also committed to not initiating foreclosure cases or eviction proceedings for at least 60 days”
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