Establishes a home equity protection insurance program for certain owner-occupied residences.

New York A07484 amends the public authorities law to establish a home equity protection insurance program. The program will insure the full value of one-to-four family residences, including condominiums, that are owner-occupied by persons meeting certain income qualifications. The full value of the property is determined by its purchase price, the purchase price plus rehabilitation costs, or an appraisal.

Establishes a home equity protection insurance program for certain owner-occupied residences.

New York A07484 amends the public authorities law to establish a home equity protection insurance program. The program will insure the full value of one-to-four family residences, including condominiums, that are owner-occupied by persons meeting certain income qualifications. The full value of the property is determined by its purchase price, the purchase price plus rehabilitation costs, or an appraisal.