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S04327 Summary:

BILL NOS04327
 
SAME ASSAME AS A08286
 
SPONSORBONACIC
 
COSPNSR
 
MLTSPNSR
 
Amd SS2402, 2405, 2405-b & 2428, Pub Auth L
 
Provides that the term "mortgage" shall also include a loan owed to a bank secured by a second lien on a fee simple or leasehold estate in real property located in the state and improved by a residential structure, whether or not insured or guaranteed by the United States of America or any agency thereof, provided, however, that such second lien secures a loan purchased by the agency and is made at the same time as a first lien securing a loan purchased by the agency.
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