Bill 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; 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.

Spectrum: Moderate Partisan Bill (Democrat 7-2)

Status: (Introduced) 2024-01-03 - referred to housing [A01582 Detail]

Text: Latest bill text (Introduced) [HTML]

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