A1111 (2025-26 session)
NY State bill
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.
- Title
- Establishes a reverse mortgage loan program for seniors and requires counseling
- Type
- New York State Assembly bill
- Session
- 2025-26 session
- Status
- In Assembly Committee
- Latest action date
- 2026-01-07
- In committee
- Housing
- Introduced
- 2025-01-09
- Law section
- Public Authorities Law
Sponsors
- Jo Anne Simon Assembly Member, District 52
Co-sponsors
- Alicia Hyndman Assembly Member, District 29
- Jaime R. Williams Assembly Member, District 59
Heard in committee
- Housing NY State Assembly committee