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- S.2490
S.2490: Reverse Mortgage Proceeds Protection Act
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about law
- Introduced Dec. 14, 2007
- Latest Major Action Dec. 14, 2007
Bill Sponsor
Bill Summary
Reverse Mortgage Proceeds Protection Act - Amends the National Housing Act of 1937 to modify the eligibility criteria for insurance of home equity conversion mortgages (reverse mortgages) of elderly home owners. Excludes from the third party adequate counseling requirement counseling by a reverse mortgage lender, servicer or investor, or an entity engaged in the sale of annuities, investments, long-term care insurance, or any other type of...
(Source: Library of Congress)
Bill Actions
Date | Description |
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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Dec. 14, 2007 |
Introduced in the Senate by Claire McCaskill (D-Mo.) |