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A06987 Summary:

BILL NO    A06987 

SAME AS    No same as 

SPONSOR    Millman

COSPNSR    

MLTSPNSR   

Add S2405-f, 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; further provides that area agencies on aging shall provide
counseling and assistance to applicants; requires independent counselling in
compliance with HUD regulations; directs the state of New York mortgage agency
to issue an annual report to the governor and the legislature.