legislation: 101-hr-3006

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
101-hr-3006 101 hr 3006 Reverse Mortgage Insurance for Older Americans Act of 1989 Housing and Community Development 1989-07-25 1989-08-01 Referred to the Subcommittee on Housing and Community Development. House Rep. Florio, James J. [D-NJ-1] NJ D F000215 1 Reverse Mortgage Insurance for Older Americans Act of 1989 - Amends the National Housing Act with regard to the elderly homeowner equity conversion mortgage program to: (1) increase the total number of insured mortgages; (2) modify the maximum value of convertible home equity (95 percent of median home price in the United States or in a particular area); (3) set forth various reverse mortgage options; (4) permit the mortgagor to convert payment methods during the term of the mortgage; (5) limit mortgagor liability; and (6) require certain disclosures by the mortgagee regarding mortgagor liability and total mortgage cost. 2025-08-26T17:26:03Z  

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