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The Laws of New York
Consolidated Laws of New York
CHAPTER 44-B
Private Housing Finance
ARTICLE 8-B
Loans to Owner-occupants of One to Four Unit Private and Multiple Dwellings
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SECTION 474
Servicing of loans by banking institutions and loan servicing companies
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ARTICLE 8-B
Loans to Owner-occupants of One to Four Unit Private and Multiple Dwellings
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SECTION 476
Mortgage recording tax exemption
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SECTION 475
Interest reduction subsidies
Private Housing Finance (PVH) CHAPTER 44-B, ARTICLE 8-B
§ 475. Interest reduction subsidies. Notwithstanding the provisions of
any general, special or local law, a municipality, acting through an
agency, is authorized to provide, or contract to provide, interest
reduction subsidies for loans made by private investors to low and
moderate income owner-occupants of one to four unit existing private or
multiple dwellings within its territorial limits, if such
owner-occupants would have been eligible under the provisions of this
article for a loan made by the municipality pursuant to this article.