New Source of Funds for NYS Affordable Housing

Part of the JP Morgan Chase settlement funds will be dedicated to affordable housing. Quoting from the Times Union, “An administration source said that under the deal, $81.5 million will go to the general fund specifically for housing programs; Schneiderman’s office will control the disbursement of the other half, through competitive requests for proposal using Office of General Services guidelines” Read the story here

Funds will be used for homeowner protection, mortgage relief incentive funds, homeowner loans and land banks. Exciting news that should make a difference.

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