NY A01074 | 2017-2018 | General Assembly

Status

Spectrum: Strong Partisan Bill (Democrat 12-1)
Status: Introduced on January 10 2017 - 25% progression, died in committee
Action: 2018-01-03 - referred to housing
Pending: Assembly Housing Committee
Text: Latest bill text (Introduced) [HTML]

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; further provides that area agencies on aging shall provide counseling and assistance to applicants; requires independent counselling in compliance with HUD regulations; directs the state of New York mortgage agency to issue an annual report to the governor and the legislature.

Tracking Information

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Title

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; further provides that area agencies on aging shall provide counseling and assistance to applicants; requires independent counselling in compliance with HUD regulations; directs the state of New York mortgage agency to issue an annual report to the governor and the legislature.

Sponsors


History

DateChamberAction
2018-01-03Assemblyreferred to housing
2017-01-10Assemblyreferred to housing

New York State Sources


Bill Comments

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