Revises oversight of "Community Wealth Preservation Program" and requirements for nonprofit community development corporations.

This bill (S 2708) revises New Jersey's foreclosure sale procedures to better protect homeowners and nonprofit community development corporations. It requires sheriffs to hold sales within 150 days, sets strict rules for notifying buyers about "upset prices" (with a 3% maximum increase), and prohibits lenders from delaying sales when nonprofits or homeowners intend to participate. Key provisions include a reduced 3.5% deposit requirement for qualifying buyers (such as nonprofits, tenants, or homeowners who will occupy the property for 84+ months) and mandates that lenders disclose property occupancy status before sale. These changes directly affect sheriffs conducting sales, lenders initiating foreclosures, homeowners facing eviction, and nonprofit community development corporations seeking to preserve affordable housing.