Exempts reverse mortgage transaction from requirement that secondary mortgage loan payments be made in equal amounts and payment periods.

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Plain-English Summary

This bill changes the rules for secondary mortgage and reverse mortgage loans in New Jersey. It clarifies that reverse mortgage transactions are exempt from certain requirements regarding equal payment periods and installment amounts. The bill also makes technical amendments to existing law.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

Votes

Sponsorship · 3 Sponsors

Democrat2Republican1Independent0Other0

D · PrimeJoseph Lagana
R · PrimeRobert Singer
D · CoGordon Johnson

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