Creates private right of action for violation of "Fair Foreclosure Act."

Bill A2535 creates a new legal option for homeowners in New Jersey who believe a residential mortgage lender violated the Fair Foreclosure Act (P.L.1995, c.244). It allows individuals to sue lenders directly in Superior Court for violations, seeking actual financial damages or $1,000 (whichever is greater), plus attorney fees and court costs. The bill amends the existing Fair Foreclosure Act to add this private enforcement mechanism, directly affecting mortgage lenders who must now face potential lawsuits for foreclosure-related violations. The law would take effect four months after enactment.