S3050 — Establishes pre-loan counseling requirements and borrower right of rescission for reverse mortgage loans.

S3050 — Establishes pre-loan counseling requirements and borrower right of rescission for reverse mortgage loans. · Informed CitizenryThis bill establishes requirements for reverse mortgage loans in New Jersey, specifically regarding pre-loan counseling and borrower rights. It requires lenders to provide borrowers with a written…Open in Informed Citizenry