The Pennsylvania House of Representatives on Monday passed legislation to protect homeowners from unknowingly losing their home and generational wealth by requiring in-person financial counseling for anyone considering a reverse mortgage.

H.B. 1466, also known as the “Cephas bill” after its sponsor, state Rep. Morgan Cephas (D-Philadelphia), would mandate in-person financial counseling before a borrower could obtain a reverse mortgage. The goal, according to Cephas, is to help fixed-income homeowners — especially seniors — understand the long-term risks of these agreements.

“Pennsylvanians are facing economic struggles across all ages and regions, but our seniors and those on details ⇒

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