Expands access to mortgage loans for cooperative properties under the homes for veterans program, as administered by the state of New York mortgage agency.
Prohibits mortgagee from refusing to accept partial mortgage payments from a mortgagor which does not bring the mortgagor current on such mortgagor's mortgage debt.
Prohibits mortgagee from refusing to accept partial mortgage payments from a mortgagor which does not bring the mortgagor current on his or her mortgage debt.
Establishes the senior homeowner foreclosure and rehabilitation revolving loan program to permit the New York state mortgage agency to make low-interest loans, deferred payment loans, or forgivable loans, or a combination thereof, to eligible senior homeowners for eligible assistance; directs SONYMA to prioritize senior homeowners at imminent risk of foreclosure; properties with essential systems in need of immediate repair or replacement, including heating and boilers; and senior homeowners with documented financial hardship that limits their ability to maintain the property or make mortgage payments.
Expands eligibility for the low interest rate program of the state of New York mortgage agency to certain graduates of post secondary programs or comparable apprenticeship and workforce training programs for the purchase of certain property.