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

… than the other way around These loans can help keep a senior in their home by giving them muchneeded cash in … $1 million according to the US Department of Housing and Urban Development They also include an insurance premiumequal to 2 percent of the apartments valuethat pays out the difference if the unit is …

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

… rent the land from someone else These are called landlease or groundlease buildings yet another quirk of NYC real … 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 … take a tax hit from the sale of the property Sanders says Due to the unusual nature of the underlying lease anyone …

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