New Jersey
N.J. lawmaker pushing a plan to help homeowners save money on their mortgages
Rutgers University economist James Hughes, dean emeritus of the Edward J. Bloustein School of Planning and Public Policy, said allowing homeowners to set up this kind of payment schedule does make sense for them financially.
“They’ll be building up equity faster than if it were a monthly payment, but it’s not a silver bullet that’s going to change the world,” Hughes said.
He said depending on the length of someone’s mortgage, it can take several years to see the benefit.
McCoy said as a homeowner’s mortgage balance decreases, equity, which she described as the cornerstone of financial stability, increases, and that gives people options.
“If you’ve got kids going off to college, you want to get the kitchen and the bathroom done, home improvements, if there are some crazy emergencies, these are the things pulling that equity out of your home [can cover] to help you with those particular expenses,” she said.
“It’s sort of a painless way of saving,” Hughes said. “Very few of us have the discipline to religiously put away a portion of our salary to build up equity.”
The legislation would also prohibit financial companies from imposing penalties on borrowers who want to pay additional amounts toward their principal.
“By offering this flexibility it really is a measure that helps homeowners manage their cash flow more effectively,” McCoy said.
Police fired tear gas and used horses to push back protesters outside the Delaney Hall immigration detention facility in Newark, after nights of demonstrations over conditions inside. New Jersey’s governor put state police in charge and set up protected protest zones.
Published On 30 May 2026
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In New Jersey, Mercer County officials have enacted new policies limiting the ability of federal immigration agents to access and use county property to conduct immigration enforcement operations.
Mercer County Executive Dan Benson issued an executive order and the Board of County Commissioners passed a resolution Friday that bans U.S. Immigration and Customs Enforcement and Customs and Border Patrol from using any nonpublic area on county property to enforce immigration law, unless they have obtained a judicial warrant or judicial order.
“From Minneapolis to Delaney Hall, ICE has repeatedly shown a total disregard for the law and for the constitutional rights of citizens and non-citizens alike,” Benson said in a statement. “We respect the Federal Government’s authority to enforce immigration law, but we will not allow them to use County properties to harass our families.”
“With this resolution, we’re sending a clear message that everyone in our community can safely interact with County government, and access County services, without fear,” said Board of Commissioners Chair Terrance Stokes in a statement. “ICE’s actions threaten the fabric of our community, and we will take whatever steps we can, within the bounds of the law, to protect our residents.”
New Jersey and New York City commuters are facing extensive delays in and out of New York Penn Station Friday, with intensifying ripple effects, after an Amtrak work train car on one of the hub’s tracks caught fire.
The FDNY says it was called to the Midtown scene on 31st Street, between Seventh and Eighth avenues, around 1:30 a.m. Nearly 100 personnel responded. Five civilians were evaluated at the scene by EMS, officials say.
It’s not clear what sparked the fire involving Amtrak’s contractor maintenance vehicles in one of the Hudson River Tunnels. It was knocked down well before 6 a.m., but service on New Jersey Transit, Amtrak, Long Island Rail Road and more was expected to see heavy impacts well into the morning rush, with Hudson River trains operating at reduced capacity. Amtrak said it didn’t expect to lift its suspension until at least noon.
Travel Advisory: Due to unforeseen track and signal maintenance resulting from a now extinguished fire in the New York area, all services traveling south of New York (NYP) are temporarily suspended. This suspension is anticipated to be in place until noon at a minimum. Services…
— Amtrak Northeast (@AmtrakNECAlerts) May 29, 2026
New Jersey Transit and LIRR also announced delays and cancellations. Cross-honoring and diversion programs were in effect as the situation developed. Complete LIRR service at NY Penn had resumed by around 7 a.m., Friday said, though equipment issues were causing cancellations. Get the latest transit information here.
Video from outside Penn Station showed smoke billowing in the pre-dawn hours, as emergency personnel stood by with stretchers awaiting any potential victims.
Amtrak is investigating the cause of the fire.
“We sincerely apologize for the inconvenience this may cause,” the agency’s latest announcement said, pledging to provide updates as new information becomes available.
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