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

… extension and modification agreement or CEMA is a loan only available to New Yorkers The most common CEMA is … you avoid paying the entire mortgage recording tax on a home loan It involves assigning a mortgage from one lender … for reassigning the loan However if you switch banks your first lender has to approve assigning your mortgage to the …

By Evelyn Battaglia |March 25, 2025 - 9:30AM
What is a mortgage recording tax? Are there ways to reduce it?

Buying a coop condo or house in New York City means you can expect to … be fooled by the name Youre required to pay this if youre buying a place at or above $1 million Then theres the …

By Brick Underground |February 18, 2025 - 12:30PM
Is my co-op maintenance tax deductible? How does this work?

… … Yes if you own in a coop building a portion but not all of your maintenance will … a tax deduction for the maintenance fee for my NYC coop How does this work … Buy … Co-ops … boards … Co-ops … taxes … Is my coop maintenance tax deductible How does this work …

By Brick Underground |February 7, 2025 - 12:30PM
The buyer's and seller's guide to NYC closing costs

… purchasing power and may affect your decision to choose one apartment over another So its crucial to understand the big … which can amount to thousands of dollars and the buildings insurance costs for the first year In a slow market … the smartest move to choose a mortgage based on the best interest rate For more details check out Whats the …

By Evelyn Battaglia |January 6, 2025 - 10:00AM