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HR 3006 101th Congress House Housing and Community Development Home equity conversion Home ownership Housing for the aged Mortgage guaranty insurance

Reverse Mortgage Insurance for Older Americans Act of 1989

Introduced: July 25, 1989 See on congress.gov
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This bill died when the 101st Congress ended
It never became law before the 101st Congress (1989–1990) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 1, 1989
Referred to the Subcommittee on Housing and Community Development.
Jul 25, 1989
Referred to the House Committee on Banking, Finance + Urban Affrs.
Jul 25, 1989
Introduced in House
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 Plain-English summary Congressional Research Service

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) modify the maximum value of convertible home equity (95 percent of median home price in the United States or in a particular area); (3) set forth various reverse mortgage options; (4) permit the mortgagor to convert payment methods during the term of the mortgage; (5) limit mortgagor liability; and (6) require certain disclosures by the mortgagee regarding mortgagor liability and total mortgage cost.

What's happening now August 1, 1989

Referred to the Subcommittee on Housing and Community Development.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Pallone, Frank
New Jersey · Jul 25, 1989
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3006: Reverse Mortgage Insurance for Older Americans Act of 1989. 101st Congress. Open America. https://openamerica.io/bill/101-HR-3006/
MLA
"H.R. 3006: Reverse Mortgage Insurance for Older Americans Act of 1989." 101st Congress, 2026, Open America, https://openamerica.io/bill/101-HR-3006/.
Bluebook (legal)
H.R. 3006, 101st Cong. (2026), https://openamerica.io/bill/101-HR-3006/.
Markdown link
[H.R. 3006: Reverse Mortgage Insurance for Older Americans Act of 1989](https://openamerica.io/bill/101-HR-3006/)
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