- Summary
- Actions
- Committee Votes
- Floor Votes
- Memo
- Text
- LFIN
- Chamber Video/Transcript
S04408 Summary:
| BILL NO | S04408 |
| SAME AS | SAME AS A05627 |
| SPONSOR | GOUNARDES |
| COSPNSR | ADDABBO, CARLUCCI, MAY, PARKER |
| MLTSPNSR | |
| Add §280-d, RP L | |
| 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. | |