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Helpful Hints

What is a Purchase CEMA and how can it save the purchaser and seller money?

August 23,2018 | By Neil B. Garfinkel, REBNY

What is a Purchase CEMA and how can it save the purchaser and seller money? A: A mortgage tax is imposed on a borrower and lender when a mortgage is made and recorded in New York State. Under certain circumstances, the mortgage tax can be reduced or avoided. A "CEMA" (which is an acronym for Consolidation, Extension and Modification Agreement) is the proces

Helpful Hints

What is a Purchase CEMA and how can it save the purchaser and seller money?

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