Establishes a reverse mortgage loan program for seniors and requires counselling
Summary
Establishes a reverse loan mortgage loan program for seniors; provides for the state of NY mortgage agency to establish many of the parameters for the implementation of the program; defines terms; requires a care needs assessment of each applicant; provides that area agencies on aging shall provide counseling and assistance to applicants; requires independent counseling in compliance with HUD regulations; directs the state of New York mortgage agency to issue an annual report to the governor and the legislature.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2023
Committee Review
Floor Vote
Governor
Introduced Jan 17, 2023
Last action Jan 3, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
2
Jan 3, 2024
Committee
REFERRED TO HOUSING
lower
Jan 17, 2023
Committee
REFERRED TO HOUSING
lower
1 primary · 5 co-sponsors
Sponsors
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