New York has signed into law an amendment redefining a reverse mortgage as a “home loan.” With this amendment, statutory pre-foreclosure ninety day notices and a “certificate of merit” will be required in all New York reverse mortgage foreclosures.
New York has signed into law an amendment redefining a reverse mortgage as a “home loan.” With this amendment, statutory pre-foreclosure ninety day notices and a “certificate of merit” will be required in all New York reverse mortgage foreclosures.