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What is a CEMA loan, and how can it reduce my mortgage recording tax?

Summary by Brick Underground
A consolidation, extension, and modification agreement or CEMA is a loan only available to New Yorkers. The most common CEMA is offered to those who are refinancing their mortgage. In some unique cases, it is also available to buyers.  Why do owners and buyers use a CEMA? This maneuver can help you avoid paying the entire mortgage recording tax on a home loan. It involves assigning a mortgage from one lender to another, so your tax is only calcu…
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What is a CEMA loan, and how can it reduce my mortgage recording tax?

A consolidation, extension, and modification agreement or CEMA is a loan only available to New Yorkers. The most common CEMA is offered to those who are refinancing their mortgage. In some unique cases, it is also available to buyers.  Why do owners and buyers use a CEMA? This maneuver can help you avoid paying the entire mortgage recording tax on a home loan. It involves assigning a mortgage from one lender to another, so your tax is only calcu…

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Brick Underground broke the news in on Tuesday, March 25, 2025.
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