Authorizes state of New York mortgage agency to purchase labor organization assisted forward commitment mortgages from banks; sets criteria for labor organization participation; requires them to guarantee up to twenty percent of outstanding indebtedness.
Removes provisions that prohibit cities of one million or more from strengthening rent regulation laws to provide more comprehensive coverage than state laws.
Prohibits corporate entity, real estate developer, or residential building contractor from directly or indirectly purchasing, owning, building, acquiring, or otherwise obtaining any interest in any single-family private dwelling and converting such property into residential real estate containing one rental unit.
Establishes an affordable housing program to be administered by the division of homes and community renewal which will provide loans or grants to certain property owners; provides that property owners receiving such loans or grants shall rent such property for no more than thirty-three percent of a tenant's income.
Establishes the homeowner protection program; provides that the department of law shall establish the homeowner protection program to ensure the availability of free housing counseling and legal services to homeowners for the purposes of mitigating threats to homeownership; provides that the department of law shall provide grants to eligible not-for-profit housing counseling organizations and legal services organizations to provide services under the program.
Allows prospective tenants of rent controlled or rent stabilized housing accommodations to request the complete rent history of such housing accommodations.
Prohibits certain regulations of the state division of housing and community renewal, for cities having a population of less than one million and towns and villages, from permitting an owner to refuse to renew a lease on grounds that the housing accommodation is sought for personal use or occupancy (i.e. use or occupancy by the owner or the owner's immediate family); repeals provisions which permit evictions for personal use and occupancy.
Establishes the "New York student loan assistance and home purchase act", for the purposes of facilitating the purchase of homes by individuals who are burdened by student debt, by providing financing opportunities for the consolidation of student debt into a mortgage.
Provides for including uncles, aunts, nephews, and nieces in the definition of "family member" in relation to regulations pertaining to rights of family members to succeed in certain cases to the rights of certain tenants.