The state could take action soon against lenders, law firms and real estate agents trying to unfairly scare renters from their homes.

Critics of "cash for keys" letters say renters are being deceived into thinking they are about to be evicted. The letters, in actuality, offer the possibility of money if renters agree to leave leases early.

Some of the letters suggest those who don't immediately leave could face eviction, which is only true in rare cases. New Jersey Public Advocate Ron Chen is looking at what action he can take against those responsible for the letters.

"Suggesting that there is some emergency and if you don't get out you are going to lose something is very, very misleading," says Chen.