HB 553

RELATING TO REVERSE MORTGAGES

By Representative(s) ARAKAKI / MCDERMOTT / LEE; Pendleton, Stegmaier

Keywords: DEPT. OF COMMERCE AND CONSUMER AFFAIRS, HOUSING, MORTGAGES, REAL PROPERTY

Report Title: Reverse Mortgages

Description: Adds a new Chapter to the Hawaii Revised Statutes regarding "reverse" mortgages, loans against home equity providing cash advances to elderly homeowners and requiring no repayment until a future time, usually until the borrower dies, sells the home, or permanently moves.

 1-22-99        H Introduced and passed First Reading                      
 1-25-99        H Referred to the committees on 1. CPC 2. FIN ,
                  referral sheet 3
 1-19-00        H Carried over to 2000 Regular Session.