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A01582 Summary:
| BILL NO | A01582 |
| SAME AS | No Same As |
| SPONSOR | Simon (MS) |
| COSPNSR | Williams, Colton, Ardila, DeStefano, Giglio JM |
| MLTSPNSR | Cook, Hyndman, Reyes |
| Add §2405-g, Pub Auth L | |
| 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. | |