New York bills · 2025 Regular Session
New York A 1111
Establishes a reverse mortgage loan program for seniors and requires counseling
- Introduced
- In committee
- Passed House
- Passed Senate
- To Governor
- Became law
Sponsors
- Jo Anne Simon (Democratic)
Cosponsors (3)
- Jaime R. Williams (Democratic)
- William Colton (Democratic)
- Joe DeStefano (Republican/Conservative)
Summary
Official abstract published by the New York legislature
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.
Text versions
Roll-call votes
No recorded votes on this bill.
Actions
- Jan 7, 2026 · House
REFERRED TO HOUSING - Jan 9, 2025 · House
REFERRED TO HOUSING