Housing (Mortgages)

in committee · New York · Assembly Jan 7, 2026

A 4377: Relates to evictions as the result of foreclosure

Provides that any landlord that is in mortgage foreclosure due to loss of rent payments cannot enter into a state of foreclosure until a court handling a special proceeding to recover rent resolves any rent issues.

Topics ✓ HousingSupports HousingPrevents immediate tenant evictions during landlord foreclosure by requiring court resolution of rent disputes, strengthening tenant protections.90% confidence

Sub-Topics Landlords Mortgages Tenant Rights

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in committee · New York · Senate Jan 7, 2026

S 6971: Relates to actions upon a subordinate bond or note

This bill (S 6971) sets new documentation requirements for lenders seeking to foreclose on residential mortgages in New York. It requires lenders to prove ownership of the mortgage note, provide a complete payment history from loan origination, and document the physical location and chain of custody of the original note. These rules apply specifically to foreclosures on one- to four-family residential properties. The bill also clarifies that defendants can raise statute of limitations or "lack of standing" defenses at any time during the case, not just in initial pleadings.

Topics ✓ HousingSupports HousingRequires lenders to prove mortgage ownership and payment history before foreclosure, preventing wrongful evictions and strengthening tenant protections for residential properties.85% confidence

Sub-Topics Mortgages

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in committee · New York · Assembly Jan 7, 2026

A 6412: Provides for the imposition of civil penalties for failure to seal the court records of evictions of tenants leasing real property that is the subject of a foreclosure

Provides that records of eviction proceeding shall be sealed when the leased property was foreclosed upon; prohibits use and disclosure of any such information relating to a tenant; imposes fine of between $1,000 and $2,000 for violations thereof.

Topics ✓ HousingSupports HousingBill protects tenants by requiring sealing of eviction records in foreclosure cases and prohibiting disclosure, preventing housing discrimination.95% confidence

Sub-Topics Mortgages Tenant Rights

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in committee · New York · Senate Jan 7, 2026

S 5528: Authorizes certain state regulated institutions to offer disaster forbearance agreements to qualified mortgagors

Authorizes certain state regulated institutions to offer disaster forbearance agreements to qualified mortgagors whose income has been adversely affected by the outbreak of COVID-19 and is unable to make their mortgage payment.

Topics ✓ HousingSupports HousingAuthorizes mortgage forbearance for COVID-19 affected homeowners, preventing foreclosure and protecting housing stability during economic hardship.85% confidence

Sub-Topics Mortgages

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in committee · New York · Assembly Sep 8, 2025

A 4241: Establishes the USDA construction tax credit

Establishes the USDA construction tax credit for a percentage of the profit on any newly constructed home that is sold to someone qualifying with a USDA mortgage.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for USDA mortgage home buyers, providing tax relief to lower-income households, aligning with support indicators for tax relief.95% confidence ✓ HousingSupports HousingTax credit incentivizes construction of USDA mortgage-eligible homes, increasing affordable housing supply for low-income buyers.90% confidence

Sub-Topics Tax Credits Affordable Housing Mortgages

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in committee · New York · Assembly Jan 7, 2026

A 1789: Authorizes the purchase of construction mortgages by the state of New York mortgage agency

Authorizes the state of New York mortgage agency to purchase construction mortgages from banks within the state during periods when there is an inadequate supply of credit available for new residential mortgages or available for such loans at carrying charges within the financial means of persons and families of low and moderate income.

Topics ✓ HousingSupports HousingAuthorizes state purchase of construction mortgages during credit shortages for low/moderate-income housing, directly increasing affordable housing access and development funding.95% confidence

Sub-Topics Housing Finance Mortgages

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passed · New York · Senate Apr 16, 2026

S 3190: Expands eligibility for the low interest rate program of the state of New York mortgage agency

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.

Topics ✓ HousingSupports HousingExpands low-interest mortgage access for graduates, increasing affordable homeownership opportunities through state housing program funding.90% confidence

Sub-Topics Mortgages

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in committee · New York · Assembly Jan 7, 2026

A 7538: Authorizes the state mortgage agency to purchase veterans' assisted forward commitment mortgages from banks within the state

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.

Topics ✓ HousingSupports HousingBill enables state mortgage agency to purchase veterans' mortgages with income limits, targeting affordable housing access for veterans within housing policy framework.85% confidence ✓ VeteransSupports VeteransAuthorizes state to purchase veterans' mortgages, expanding housing benefits and establishing income limits for targeted veteran eligibility.90% confidence

Sub-Topics Mortgages Veteran Housing

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in committee · New York · Assembly Jan 7, 2026

A 4455: Requires a stay of certain foreclosure proceedings

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.

Topics ✓ HousingSupports HousingPrevents foreclosures for homeowners applying for housing assistance, protecting housing stability and tenant rights during aid applications.95% confidence

Sub-Topics Homeownership Mortgages

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in committee · New York · Assembly Jan 7, 2026

A 3874: Requires a mandatory settlement conference in cooperative apartment unit foreclosure actions

Bill A 3874 requires courts to hold a mandatory settlement conference before proceeding with foreclosures on cooperative apartment units where the borrower lives in the unit. It directly affects co-op residents facing foreclosure and their lenders, mandating that lenders file a petition with the court detailing the default and serving the borrower. The conference, held within 60 days, requires both parties to bring specific documents (like payment histories for lenders and income details for borrowers) and negotiate in good faith to explore alternatives like loan modifications or adjusted payment plans. This process aims to provide a structured opportunity to prevent home loss before foreclosure actions advance.

Topics ✓ HousingSupports HousingMandates settlement conferences before co-op foreclosures, protecting tenants from displacement and strengthening tenant rights.95% confidence

Sub-Topics Mortgages

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