What's a reverse mortgage—and how common are they in NYC?

… basic level a reverse mortgage is what it sounds like a home loan where the bank pays you based on your homes value rather than the other way around These loans can help keep a senior in their home by giving them muchneeded cash in exchange for equity …

By Celia Young |April 2, 2024 - 3:30PM
What are land-lease buildings? Are they common in NYC?

… majority of residential buildings in New York City own the land they sit on but a tiny percentage rent the land from … buyers need to be aware of  In a lot of ways a land lease is just like any other lease It allows the building to … knowing when the lease expires is important The unknown of what could happen can be scarier for say a landlease coop on …

By Evelyn Battaglia |December 4, 2023 - 12:30PM