A04365 - Relates to the purchase of community land mortgages; defines a community land mortgage as a mortgage that is secured by a first lien on a leasehold estate in real property that is improved by a residential structure wherein title to the real property is retained by a not-for-profit housing company or housing development fund company; authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state; ensures not-for-profit housing remains as affordable housing.
New York - 2023-2024 General Assembly
Introduced byMichael J. Fitzpatrick, Christopher Tague, Brian Manktelow
Last updated over 1 year ago
3 Co-Sponsors
STATUS
Introduced
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