Reverse Mortgage Insurance and Tax Payment Program Extension Temporary Amendment Act of 2024

This bill temporarily extends the District of Columbia Housing Finance Agency's Reverse Mortgage Insurance and Tax Payment Program through 225 days after its effective date. The amendment allows the program to use financial assistance not only for property taxes and insurance but also for condominium and homeowners association fees. Additionally, the maximum amount of assistance an eligible senior homeowner can receive is increased from $25,000 to $40,000. These changes apply specifically to seniors using reverse mortgages in the District of Columbia and give the Housing Finance Agency more flexibility in issuing aid.