CEMA documents can be a way to save mortgage tax
The GoDocs system does not currently support the generation of CEMA documentation.
A Consolidation, Extension and Modification Agreement (CEMA) is a complex loan process available only for refinances, most common in New York State. CEMA loans allow borrowers to pay mortgage recording taxes on only the difference between their current principal balance and their new loan amount. A CEMA loan includes an agreement between the existing Lender and the New Lender to combine two or more loans into a new, consolidated loan.
Our GoDocs LegalNet network could provide the appropriate documentation for this type of transaction. Our LegalNet partners work closely with the GoDocs system and GoDocs customers to provide efficient solutions for complex loans.
Otherwise, if you wish to use our non-CEMA documents as a base set in DRAFT form, you may do so and undertake the finalization process on your end, at your discretion.