Establishes the first-time homebuyer assistance program within the state of New York mortgage agency to provide assistance to first-time homebuyers of certain residential units.
Establishes the New American homebuyer assistance program within the state of New York mortgage agency to assist first time homebuyers by imposing flexible documentation guidelines that take into account foreign documentation of income and assets.
Establishes the New American homebuyer assistance program within the state of New York mortgage agency to assist first time homebuyers by imposing flexible documentation guidelines that take into account foreign documentation of income and assets.
Establishes the first-generation homebuyer assistance program to provide a zero-interest, forgivable loan award in the amount of up to $15,000 to first-generation homebuyers.
Exempts from the mortgage recording tax mortgages executed by a veteran first time homebuyer.
Exempts from the mortgage recording tax mortgages executed by a veteran first time homebuyer.
Establishes the New York state first home savings program to authorize first time home buyers to establish savings accounts to buy their first home.
Establishes the New York state first home savings program to authorize first time home buyers to establish savings accounts to buy their first home.
Requires a stay of certain foreclosure proceedings where the mortgagor has applied for coverage under the New York state homeowner assistance fund or any local program administering federal emergency mortgage assistance program funds; allows such foreclosure proceedings to proceed against a mortgagor who has caused significant damage to the property.
Authorizes the state mortgage agency to purchase veterans' assisted forward commitment mortgages from banks within the state; requires the board of directors of the state mortgage agency to establish income limits for eligible veterans from time to time.