Industry News

Calif. law would require counseling for reverse-mortgage applicants

Bill intended to protect elderly, non-English speakers from predatory practices
Published on Sep 5, 2006

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

A bill aimed at protecting California’s elderly and non-English speakers from predatory reverse-mortgage loan practices awaits Gov. Arnold Schwarzenegger’s signature. Senate Bill 1609 would require reverse-mortgage loan applicants to complete counseling from a Department of Housing and Urban Development-approved agency. ...

Comments