A 5389·NJ·house
Exempts reverse mortgage transaction from requirement that secondary mortgage loan payments be made in equal amounts and payment periods.
Reported by CommitteeFiled Sep 10, 2026
Sponsor: Sterley Stanley (D)
Latest Action
Reported out of committee Second Reading Assembly
Oct 5, 2026
Summary
The bill would remove the requirement that secondary mortgage loan payments be made in equal amounts and equal periods when the transaction involves a reverse mortgage. It applies to borrowers and lenders dealing with reverse mortgage arrangements in New Jersey. The change is intended to give more flexibility in structuring these loans.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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