Reverse Mortgage Insurance for Older Americans Act of 1989

Summary

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) set forth various reverse mortgage options; (3) permit the mortgagor to convert payment methods during the term of the mortgage; (4) limit mortgagor liability; and (5) require certain disclosures by the mortgagee regarding mortgagor liability and total mortgage cost.

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Timeline

1. 1 November 1989

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 1 November 1989

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

• Introduced in Senate · — · Download file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 1 November 1989

  Open at official source

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Sponsors

• Sen. Graham, Bob [D-FL] · D · Sponsor
• Sen. Lautenberg, Frank R. [D-NJ] · D · Cosponsor
• · ssbk00 · Standing

Related records

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