Requires lenders foreclosing upon home equity conversion reverse mortgages to provide notice to the department of financial services and the mortgagors
This bill was replaced by S 4408, which carries it forward. Follow S 4408 instead.
- Stage
- Introduced
- Sponsor
- WEINSTEIN
- Latest action
- Jul 21, 2020
What it does
Requires an authorized lender which seeks to foreclose upon a reverse mortgage issued under the federal home equity conversion mortgage program to provide notice thereof to the department of financial services and to the mortgagor; directs such department to provide notice to the mortgagor of legal service organizations which may assist them with the default or foreclosure; prohibits authorized lenders from making advance payment of debts upon the mortgaged real property.
Where it stands
This bill was replaced by S 4408, which carries it forward. Follow S 4408 instead.
Introduced (Current step)
Committee (Not started)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
- WEINSTEIN
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