Housing (Mortgages)

in committee · New York · Senate May 14, 2026

S 574: Establishes the end predatory home flipping act

Establishes the end predatory home flipping act; imposes a tax on the transfer of certain residential properties which are sold within two years of the prior conveyance of such property; exempts certain purchases of residential properties from mortgage recording taxes; imposes a tax on the transfer of certain properties in the city of New York which are sold for one million dollars or more.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes tax on short-term property flips (closing loophole) and exempts certain purchases, promoting fiscal responsibility through targeted taxation.90% confidence ✓ HousingSupports HousingTax on rapid property flips targets speculative practices that inflate housing costs, potentially increasing affordability by curbing short-term price spikes.85% confidence

Sub-Topics Mortgages Property Taxes

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in committee · New York · Assembly Jan 7, 2026

A 5966: Relates to requiring notification by mortgagees commencing foreclosure actions to aid in the identification and improvements of at-risk properties

Relates to requiring written notification by mortgagees commencing foreclosure actions on a multiple dwelling with ten or more units to the department of housing preservation and development to aid in the identification and improvements of at-risk properties.

Topics ✓ HousingSupports HousingMandates mortgagee notification to housing department for identifying/improving at-risk properties, preserving housing stock and preventing deterioration.90% confidence

Sub-Topics Mortgages Property Development

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in committee · New York · Assembly Jan 7, 2026

A 8493: 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 eligibility for graduates, increasing access to affordable homeownership through state housing program funding.95% confidence

Sub-Topics Mortgages

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in committee · New York · Assembly Jan 7, 2026

A 9116: Relates to the collection of monies owed for unpaid real property tax liens and water and sewer charges; establishes the homeowner protection fund; repealer

Relates to the collection of monies owed for unpaid real property tax liens and water and sewer charges; establishes the homeowner protection fund; prohibits municipalities from conveying tax liens on real property to any private entity, trust, or third-party servicer; repeals certain provisions relating to foreclosure of real property tax liens.

Topics ✓ HousingSupports HousingBill prohibits municipalities from selling tax liens to private entities and establishes homeowner protection fund, preventing foreclosure-related housing loss and protecting property rights.85% confidence

Sub-Topics Homeownership Mortgages Property Taxes

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in committee · New York · Senate Jan 7, 2026

S 5620: Exempts from the mortgage recording tax mortgages executed by a veteran first time homebuyer

This bill exempts veteran first-time homebuyers in New York from paying the mortgage recording tax on new home purchases. It adds a new provision to tax law stating that mortgages executed by veterans (as defined in the Veterans' Services Law) who are first-time homebuyers are not subject to the mortgage recording tax. The exemption applies directly to qualifying veterans purchasing their first home, removing a financial cost associated with closing the mortgage. This is a concrete tax policy change affecting eligible veteran homebuyers, not a broader housing or veteran benefit program.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts veteran first-time homebuyers from mortgage recording tax, providing direct tax relief for a specific group as a tax policy change.95% confidence ✓ HousingSupports HousingExempts veteran first-time homebuyers from mortgage recording tax, reducing financial barriers to homeownership and advancing affordable housing access.92% confidence ✓ VeteransSupports VeteransExempts veteran first-time homebuyers from mortgage recording tax, reducing financial barriers to homeownership - a direct benefit expansion under veterans' services.95% confidence

Sub-Topics Procurement Homeownership Mortgages Veteran Benefits Veteran Housing

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signed · New York · Assembly Jun 26, 2025

A 8571: Relates to the powers of the New York state housing finance agency

This bill extends temporary provisions allowing the New York State Housing Finance Agency to issue bonds and provide financing for multi-family housing and mortgage programs until July 23, 2027. It maintains existing bond limits ($10.92 billion total, with $2.4 billion for mortgage programs) and sets income eligibility limits for borrowers at 125%-150% of federal standards. The agency can continue administering current housing programs, including neighborhood revitalization, under these extended terms. The changes directly affect the agency, housing developers, and low-to-moderate income residents seeking financed housing.

Topics ✓ HousingSupports HousingExtends bond financing for multi-family housing and maintains income eligibility limits (125%-150% of federal standards), directly funding affordable housing programs without restrictions.90% confidence

Sub-Topics Community Development Housing Finance Mortgages

in committee · New York · Senate Jan 7, 2026

S 3077: Relates to requiring plaintiffs to furnish proof that notice of possible foreclosure was delivered to the defendant

This bill requires lenders or mortgage servicers (plaintiffs in foreclosure cases) to provide official proof that foreclosure notices were delivered to borrowers (defendants). Specifically, notices must be sent via registered/certified mail with proof of delivery, or first-class mail with a request for proof, to the borrower's last known address and the property address. Failure to provide this proof becomes a legal defense that can halt foreclosure proceedings. The bill also mandates including current lists of local housing counseling agencies in foreclosure notices.

Topics ✓ HousingSupports HousingRequires proof of foreclosure notice delivery, protecting homeowners' property rights by preventing wrongful foreclosure, aligning with property rights in housing policy.85% confidence

Sub-Topics Mortgages Tenant Rights

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in committee · New York · Senate Jan 7, 2026

S 5790: Establishes the New York student loan assistance and home purchase act

Establishes the "New York student loan assistance and home purchase act" for the purposes of facilitating the purchase of homes by individuals who are burdened by student debt, by providing financing opportunities for the consolidation of student debt into a mortgage.

Topics ✓ HousingSupports HousingBill enables home purchase for student debt holders by consolidating debt into mortgages, directly addressing a key barrier to affordable housing access and promoting homeownership.90% confidence

Sub-Topics Homeownership Mortgages

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in committee · New York · Senate Jan 7, 2026

S 4446: Enacts the "shelter arrears eviction forestallment act"

Enacts the "shelter arrears eviction forestallment act" to provide emergency assistance for rent or mortgage arrears or other fees for the prevention of eviction.

Topics ✓ HousingSupports HousingBill provides emergency assistance for rent/mortgage arrears to prevent eviction, directly protecting tenants and promoting housing stability.95% confidence

Sub-Topics Mortgages Renters Tenant Rights

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in committee · New York · Assembly Jan 7, 2026

A 1553: Requires companies aided by loans under Mitchell-Lama to notify tenants of buy out from mortgage options and a report by the commissioner or supervising agency

Requires companies aided by loans under Mitchell-Lama to notify tenants of such housing of the possibility of buyout from mortgages held which would potentially result in rent increases not later than twelve months prior to proposed dissolution; provides such notice shall inform tenants of the nature of the action, the date intended, the applicable laws and a summary of the potential consequences including expenses and rent increases which may be charged; requires the commissioner or supervising agency to prepare a report to be made available to the tenants of the project.

Topics ✓ HousingSupports HousingRequires landlords to notify tenants of potential rent increases from buyouts, strengthening tenant protections under Mitchell-Lama housing program.90% confidence

Sub-Topics Mortgages Renters

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