Pennsylvania HB2120 amends the Loan Interest and Protection Law to include shared appreciation agreements within the definition of residential.

Pennsylvania HB2120 amends the Loan Interest and Protection Law by expanding the definition of "residential mortgage" to include "shared appreciation agreements." These agreements involve an individual receiving money or value in exchange for an interest in a dwelling or residential property, or a future obligation secured by a lien on such property. The bill also clarifies that these agreements do not include home secured loans guaranteed by government agencies. The changes take effect immediately upon enactment.

Pennsylvania HB2120 amends the Loan Interest and Protection Law to include shared appreciation agreements within the definition of residential.

Pennsylvania HB2120 amends the Loan Interest and Protection Law by expanding the definition of "residential mortgage" to include "shared appreciation agreements." These agreements involve an individual receiving money or value in exchange for an interest in a dwelling or residential property, or a future obligation secured by a lien on such property. The bill also clarifies that these agreements do not include home secured loans guaranteed by government agencies. The changes take effect immediately upon enactment.