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The New York State Division of Housing and Community Renewal (DHCR) is an agency of the New York state government [1] responsible for administering housing and community development programs to promote affordable housing, community revitalization, and economic growth. Its primary functions include supervising rent regulations through the State ...
Its mission is to expand affordable housing opportunities for low- and moderate-income New Yorkers. HCR consists of several state agencies and corporations: the New York State Division of Housing and Community Renewal (DHCR), the New York State Housing Finance Agency (HFA), the State of New York Mortgage Agency (SONYMA).
The department also has a law enforcement division, the New York State Office of Tax Enforcement. Its regulations are compiled in title 20 of the New York Codes, Rules and Regulations. It is headquartered in Building 8/8A at the W. Averell Harriman State Office Building Campus in Albany.
Depending on laws in your state, you might have the ability to exercise the right of redemption (meaning you can reclaim your home) up until the foreclosure sale, or even after. Step 5: Eviction
Key takeaways. If you’re facing foreclosure, the right of redemption gives you a legal pathway to keep or regain your home, by paying back the entire outstanding loan, plus interest and fees.
HPD is currently in the midst of New York City Mayor Bill de Blasio's Housing New York initiative to create and preserve 300,000 units of affordable housing by 2026. By the end of 2021, the City of New York financed more than 200,000 affordable homes since 2014, breaking the all-time record previously set by former Mayor Ed Koch. [3]
In March, the U.S. Bank Trust Company filed a foreclosure notice against Moss in New York Supreme Court, stating "You are in danger of losing your home" due to owing $46,106 plus interest.
The 421-a tax exemption is a property tax exemption in the U.S. state of New York that is given to real-estate developers for building new multifamily residential housing buildings in New York City. As currently written, the program also focuses on promoting affordable housing in the most densely populated areas of New York City.