The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
007
:
REVERSE MORTGAGES
(Cite as: 8 V.S.A. § 10704)
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§ 10704. Limitation on reverse mortgage loan programs
No financial institution shall issue a reverse mortgage loan unless it is a lender
approved by the federal Department of Housing and Urban Development (HUD) to enter
into a loan insured by the federal government and the reverse mortgage loan complies
with all requirements for participation in the HUD Home Equity Conversion Mortgage
Program or other similar federal reverse mortgage loan program from time to time created
and is insured by the Federal Housing Administration or other similar federal agency
or is a government sponsored enterprise reverse mortgage loan. (Added 2009, No. 53, § 4.)