™Your Policy Risk Impact Agent
17 chapters · 553 sections in this title.
A.R.S. § 6-1701 Definitions
1.5K chars
In this chapter, unless the context otherwise requires: 1. "Agreement" means the document that on execution obligates the borrower and originator under the reverse mortgage. 2. "Dwelling" means a residence that is designed principally for at least one and not more than four famil…
A.R.S. § 6-1702 Financial counseling; counselor requirements
0.7K chars
A. Adequate counseling under this chapter must be provided by a counselor who is an independent third party. B. To qualify as an independent third party, the counselor may not be associated with or compensated, directly or indirectly, by a party involved in any of the following: …
A.R.S. § 6-1703 Required disclosures; counseling
2.5K chars
A. Before accepting a final and complete application for a reverse mortgage or assessing any fees, the originator shall: 1. Provide the borrower with a list of at least five housing counseling agencies, including at least two housing counseling agencies that can provide counselin…
A.R.S. § 6-1704 Reverse mortgage; provisions
2.2K chars
A. A reverse mortgage may provide for a fixed or variable interest rate or future sharing between the originator and the borrower of the appreciation in the value of the property, as agreed on by the originator and the borrower. B. The reverse mortgage agreement shall prominently…