Category Archives: news

The future of the Affordable New York tax break, commonly referred to as 421-a, remains uncertain

This past Saturday, January 15, 2022, marked an end to the foreclosure and eviction moratoriums for NY (Chapter 417).

THE BUILD BACK BETTER ACT: PROHIBITION OF IRA INVESTMENTS CONDITIONED ON ACCOUNT HOLDER’S STATUS AND PROHIBITION OF INVESTMENT OF IRA ASSETS IN ENTITIES, DROPPED FROM BILL IN THE LAST 24 HRS

THE BUILD BACK BETTER ACT: PROHIBITION OF IRA INVESTMENTS CONDITIONED ON ACCOUNT HOLDER’S STATUS; PROHIBITION OF INVESTMENT OF IRA ASSETS IN ENTITIES IN WHICH THE OWNER HAS A SUBSTANTIAL INTEREST

On September 1st, the NY State Senate and Governor enacted the following series of statutes: Tenant Safe Harbor Act (“TSHA”), the COVID-19 Emergency Eviction and Foreclosure Prevention Act (“CEEFPA”), and COVID-19 Emergency Protect Our Small Businesses Act (“CEPOSBA”).

Thursday’s crucial ruling will have massive implications on the renters’ market. Essentially, the U.S. Supreme Court has lifted the Biden Administration/CDC’s Eviction Moratorium.

Private Lender Law submitted our opposition to the bill on behalf of the National Private Lenders Association. We urge all private lenders to submit opposition against licensing requirements for private Real Estate Lenders.

NY Private Lender/Investor Alert

Attention NY Private Lender’s and Investors, Bill #S5376 has been introduced to the NY Senate that will adversely impact fix-n-flip transactions in New York City.

Private Lender Law and the National Private Lenders Association are preparing arguments to dissuade passage

S1061 (old bill S6688 of 2020) was reintroduced in the New York State Senate on January 6th. The identical A1420 (old bill A10878 of 2020) was reintroduced in the New York State Assembly on January 11th.