NY S01246 | 2019-2020 | General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 11 2019 - 25% progression
Action: 2019-01-11 - REFERRED TO AGING
Pending: Senate Aging Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Adds new conditions on authorized lenders of reverse mortgages including: delivery of a plain language notice, providing the borrower with a reverse mortgage worksheet guide and counseling, and a lapse of seven days between the reverse mortgage counseling and acceptance of the borrower's final application.

Tracking Information

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Title

Adds new conditions on authorized lenders of reverse mortgages including: delivery of a plain language notice, providing the borrower with a reverse mortgage worksheet guide and counseling, and a lapse of seven days between the reverse mortgage counseling and acceptance of the borrower's final application.

Sponsors


History

DateChamberAction
2019-01-11SenateREFERRED TO AGING

Same As/Similar To

A06883 (Same As) 2019-03-25 - referred to judiciary

New York State Sources


Bill Comments

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