What Is CEMA in Mortgage? - CountyOffice.org

What Is CEMA in Mortgage? In this enlightening video, we delve into the intricacies of CEMA in mortgages. CEMA, or Consolidation, Extension, and Modification Agreement, offers homeowners a unique opportunity to refinance their mortgage while maintaining the original mortgage's priority. By combining the existing mortgage with a new loan, borrowers can streamline the refinancing process, saving both time and money on associated costs. Particularly prevalent in New York, CEMA can lead to substantial financial benefits for those seeking to optimize their mortgage terms. However, navigating CEMA requires the consent of the existing lender and is typically overseen by legal professionals or title companies to ensure adherence to legal requirements.

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