New Jersey · 2026-2027 Regular Session · Bill

S 1420: Exempts reverse mortgage transaction from requirement that secondary mortgage loan payments be made in equal amounts and payment periods.

Passed both chambers Last action October 29, 2026: Passed Assembly (Passed Both Houses) (76-0-0)

Plain-language summary

S 1420 is a bill introduced in the New Jersey Senate on January 13, 2026. According to its official title, it concerns: Exempts reverse mortgage transaction from requirement that secondary mortgage loan payments be made in equal amounts and payment periods. Primary sponsor: Joe Lagana (Democratic), Bob Singer (Republican), Sterley Stanley (Democratic), Roy Freiman (Democratic). It lists 1 additional sponsor. Most recent recorded action (October 29, 2026): Passed Assembly (Passed Both Houses) (76-0-0).

Sponsors

Primary sponsors: Joe Lagana (Democratic); Bob Singer (Republican); Sterley Stanley (Democratic); Roy Freiman (Democratic). 1 co-sponsor.