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Statement: NYLAG supports reverse mortgage fix

Expanding the definition of “home loans” to cover reverse mortgages affords senior citizens facing foreclosure with consumer protections now enjoyed by all other residential home loan borrowers.  These basic protections have prevented thousands of foreclosures across New York State. This bill will ensure that seniors with reverse mortgages have the equal protection they deserve in order to save their homes from foreclosure.

Read NYLAG’s letter of support here

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