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.
Impact
The introduction of this bill is significant as it seeks to provide vital resources to homeowners at risk of losing their homes due to foreclosure or other issues. By ensuring that free counseling and legal services are available, particularly in communities of color, the bill aims to mitigate some of the financial stresses and legal challenges that homeowners may face. This is expected to help preserve homeownership rates in New York, which could have a wider impact on community stability and economic health.
Summary
Senate Bill S02627, also known as the Homeowner Protection Program Bill, aims to establish a program within the New York Department of Law to provide free housing counseling and legal services to homeowners facing threats to homeownership. The bill outlines various types of assistance that the program will offer, including support for home retention, preservation efforts, and counseling to combat scams targeting homeowners. The implementation of the program is dependent on funding appropriated by the state legislature.
Contention
While the bill has garnered support as a measure to protect homeowners, there may be concerns regarding the funding and sustainability of the program. Critics could argue that without a sound financial framework, the program might not be able to deliver the promised services, leading to disappointment among those who rely on it. Additionally, the effectiveness of the counseling services in mitigating threats to homeownership will be closely monitored as part of the bill's implementation.
Notable_points
The bill emphasizes the importance of accessibility to legal resources for homeowners, acknowledging the unique challenges faced by individuals in lower-income communities. It establishes a framework for grants to not-for-profit organizations that can effectively provide these services, which could lead to strong partnerships between the state and community organizations aimed at fostering housing stability.
Same As
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.
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.
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.
Creates a pilot program to encourage homeownership among persons and groups who are currently underrepresented in homeownership and/or have seen a marked decline in rates of homeownership over the last decade; provides for the repeal of such provisions upon the expiration thereof.
Establishes the New York state diplomas to homeownership assistance program; provides awards of up to fifteen thousand dollars to eligible applicants for repayment on student loans; makes an appropriation therefor.
Relates to protections for homeowners in the event of tax lien foreclosure; establishes notice and hearing requirements and a homeowners bill of rights.
Enacts the residential structure fire prevention act; provides a tax credit to homeowners who remove cock loft fire hazards in their homes; provides an insurance discount for the installation of smoke detecting alarm devices in cock lofts; provides that the repair of cock lofts for the purpose of fire prevention and safety shall be qualifying expenditures under state housing programs.