Housing (Mortgages)

in committee · New York · Senate Feb 10, 2026

S 3150: Establishes the New York state first home grant program

Establishes the New York state first home grant program; directs the commissioner of homes and community renewal, in consultation with the state comptroller, to implement such program; provides assistance on behalf of a first time home buyer qualified for such program; and for costs in connection with the acquisition, involving an eligible mortgage loan, of an eligible home, including downpayment costs, closing costs, and costs to reduce the rates of interest on eligible mortgage loans; subsidies to make shared equity homes affordable to home buyers by discounting the price for which the home will be sold and to preserve the affordability of the home for subsequent home buyers; and pre-occupancy home modifications required to accommodate qualified home buyers or members of their household with disabilities; excludes the amount of any grant to any first time home buyer awarded or any federal first time home buyer grant program from taxable income for the purpose of calculating New York adjusted gross income.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates state budget funds for first-time homebuyer grants, directly funding a program under government spending with no tax implications.95% confidence ✓ HousingSupports HousingProvides direct financial assistance for down payments and closing costs for first-time homebuyers, advancing affordable housing access through state funding.95% confidence

Sub-Topics Audits & Accountability Homeownership Mortgages

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in committee · New York · Assembly May 14, 2026

A 342: Establishes the end toxic 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 rapid property flips and high-value NYC sales, generating revenue through targeted taxation to address market practices, aligning with fiscal management.92% confidence ✓ HousingSupports HousingTax on short-term property flips targets speculative practices that inflate housing costs, aligning with affordability goals. Title explicitly addresses 'toxic home flipping' as a housing market issue.85% confidence

Sub-Topics Mortgages Property Taxes

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failed · New York · Assembly Jan 7, 2026

A 5487: Exempts from the mortgage recording tax mortgages executed by a veteran first time homebuyer

This bill exempts veteran first-time homebuyers from paying the mortgage recording tax in New York. It directly affects veterans who are purchasing their first home, as defined under New York's veterans' services law. The key provision adds a new exemption to the tax law, removing the tax requirement for mortgages executed by this specific group. The change applies immediately upon the bill's enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax exemption for veteran first-time homebuyers, reducing their tax burden per New York tax law, aligning with tax relief indicators.90% confidence ✓ HousingSupports HousingExempts veterans from mortgage recording tax, lowering upfront costs for first-time homebuyers and advancing affordable housing access.95% confidence ✓ VeteransSupports VeteransExempts veteran first-time homebuyers from mortgage recording tax, directly expanding financial benefits under New York's veterans' services law.95% confidence

Sub-Topics Procurement Homeownership Mortgages

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in committee · New York · Senate Apr 13, 2026

S 3737: Prevents fraudulent deed transfers

This New York state bill (S 3737) protects homeowners from being misled into signing away their property to mortgage servicers. It requires all property transfer deeds to include explicit, bold warning language stating "YOU ARE HEREBY MADE AWARE THAT BY SIGNING THIS DEED YOU ARE TRANSFERRING OWNERSHIP OF YOUR LAND OR HOME," accompanied by a notarized signature line from the homeowner. Failure to include this warning makes the transfer invalid and could result in a class E felony charge for the party involved. The bill also explicitly prohibits mortgage servicers from claiming ownership through deed transfers during mortgage modifications, and authorizes the state banking department to investigate suspected fraudulent transfers.

Topics ✓ HousingSupports HousingPrevents fraudulent property transfers, explicitly protecting homeowners' property rights by requiring clear warnings and invalidating deceptive deeds.95% confidence

Sub-Topics Homeownership Mortgages

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in committee · New York · Assembly Jan 7, 2026

A 7494: Relates to real property tax lien transfers; repealer

Establishes provisions for real property tax lien transfers to assist homeowners facing foreclosure based on unpaid taxes; repeals existing provisions relating to acceptance of taxes from certain loan corporations.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for homeowners facing foreclosure due to unpaid taxes, aligning with tax relief indicators for lower/middle income.85% confidence ✓ HousingSupports HousingPrevents foreclosure for homeowners with unpaid taxes, protecting housing stability and property rights per bill's purpose to assist homeowners facing tax-related foreclosure.95% confidence

Sub-Topics Property Tax Mortgages Property Taxes

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in committee · New York · Senate Jan 7, 2026

S 618: Prohibits lenders from blocking access to funds from a credit line mortgage

This bill (S 618) prohibits lenders from blocking a borrower’s access to funds in a credit line mortgage when the borrower is current on payments. It directly affects homeowners with existing credit line mortgages who might have faced sudden loss of access to their available funds. The key provision requires lenders to maintain access to these funds for on-time borrowers, removing the ability to revoke or restrict access solely due to the borrower’s current payment status. The law amends New York’s Banking Law and Real Property Law to enforce this requirement, effective immediately.

Topics ✓ HousingSupports HousingProtects property rights by ensuring homeowners with current mortgages access credit line funds, directly addressing a core aspect of housing policy as defined.95% confidence

Sub-Topics Mortgages

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in committee · New York · Assembly Jan 7, 2026

A 8721: Provides that a default judgment against a defendant in a foreclosure action does not need to be vacated for such defendant to claim the plaintiff lacks standing or that the statute of limitations has expired

Provides that a default judgment against a defendant in a foreclosure action does not need to be vacated in order for the defense of lack of standing or expiration of the statute of limitations to be raised by the defendant.

Topics ✓ HousingSupports HousingBill strengthens foreclosure defense rights by allowing standing/limitations claims without vacating default judgments, protecting homeowners from wrongful eviction.85% confidence

Sub-Topics Mortgages

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in committee · New York · Assembly Jan 7, 2026

A 1716: Prohibits lenders from blocking access to funds from a credit line mortgage

This bill prohibits lenders from cutting off access to funds in home equity lines of credit (HELOCs) when borrowers are making timely payments. It directly affects homeowners who use HELOCs for residential financing by ensuring lenders cannot arbitrarily block their access to available credit. The law amends two state laws to explicitly state that lenders must maintain borrower access to these credit lines as long as payments are current. This creates a clear, enforceable requirement for lenders regarding a common type of residential mortgage product.

Topics ✓ HousingSupports HousingProtects homeowners' access to HELOCs, reinforcing property rights under housing policy by preventing arbitrary lender restrictions on existing credit lines.85% confidence

Sub-Topics Mortgages

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in committee · New York · Senate Jan 7, 2026

S 2663: Prohibits mortgagee from refusing to accept partial mortgage payments

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.

Topics ✓ HousingSupports HousingBill prevents foreclosure by requiring mortgagees to accept partial payments, protecting homeownership stability and aligning with housing protection indicators.85% confidence

Sub-Topics Mortgages

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in committee · New York · Assembly Jan 7, 2026

A 501: Relates to the payment of shelter and rent arrears

Relates to the payment of shelter and rent arrears; provides that all shelter arrears payments authorized for applicants to receive an emergency grant to pay for rent, property taxes or mortgage arrears shall be limited to once every year unless the district determines at its discretion that additional shelter arrears payments are necessary based on the individual circumstances.

Topics ✗ HousingOpposes HousingLimits annual shelter arrears payments to once per year, restricting tenant financial assistance and weakening protection against eviction.85% confidence

Sub-Topics Mortgages Renters

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