Creates a veteran's home and land ownership loan program to provide loans to veterans to purchase homes or unimproved land suitable for building; requires such loans to be secured by a second mortgage.
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 access to mortgage loans for cooperative properties under the homes for veterans program, as administered by the state of New York mortgage agency.
Requires EDA administer small business loan program to provide loans to small businesses owned or controlled by certain veterans.
Requires EDA administer small business loan program to provide loans to small businesses owned or controlled by certain veterans.
Enacts the "deed protection act" in relation to prohibiting a mortgage banker or mortgage loan servicer from commencing, maintaining, or proceeding with a foreclosure action on a mortgage loan where such mortgage banker or mortgage loan servicer knows or has reason to know that the mortgage securing such loan is dependent on a deed, conveyance, or other instrument affecting title to residential real property that was procured by fraud, forgery, or other unlawful means.
Establishes the small homeowner rehabilitation revolving loan program administered by the New York state housing finance agency consisting of moneys appropriated by the legislature, repayments of principal and interest on loans made from the program, interest earnings, private or philanthropic contributions, and any other moneys made available for its purposes; authorizes the New York state housing finance agency to make low-interest loans, deferred payment loans, or forgivable loans, or a combination thereof, to eligible small homeowners for eligible rehabilitation and repair projects; provides for eligibility requirements and tenant protections.
Relating to eligibility for loans from the Veterans' Land Board.
Enacts the "deed protection act" in relation to prohibiting a mortgage banker or mortgage loan servicer from commencing, maintaining, or proceeding with a foreclosure action on a mortgage loan where such mortgage banker or mortgage loan servicer knows or has reason to know that the mortgage securing such loan is dependent on a deed, conveyance, or other instrument affecting title to residential real property that was procured by fraud, forgery, or other unlawful means.
Provides for a home ownership assistance account administered by Rhode Island housing and mortgage finance corporation to expand home ownership.