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Title:
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Authorizing a full and comprehensive investigatory public hearing by Council's Committee on Finance on the impact reverse mortgage lending products are having on residents in the City of Philadelphia. Specifically, the public hearings will seek to determine the extent and impact such lending products have on the City's senior citizen homeowners, and the potential intergovernmental remedies that can be developed to protect consumers from any unintentional harms that may result from acquiring this type of lending product.
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Action:
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Introduced and Ordered Placed on This Week's Final Passage Calendar
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Action text:
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A motion was made by Councilmember Parker that this matter be Introduced and Ordered Placed on This Week's Final Passage Calendar. The motion carried unanimously.
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