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REFI using CEMA?

Started by kiz10014
about 16 years ago
Posts: 357
Member since: Apr 2009
Discussion about
Does anyone have any experience on refinancing with avoidance of repaying mortgage tax using CEMA?
Response by shong
about 16 years ago
Posts: 616
Member since: Apr 2008

kiz - when refinancing a condo or single family, most banks allow CEMAs, this is usually something we do as a standard. This helps you avoid paying mortgage tax again. If you let me kow the bank that holds your mortgage, I can tell you whether they allow CEMAs. There are some small fees associated with it depending on what the bank that holds the mortgage charges but it sure beats paying mortgage tax again. sunny.hong@bankofamerica.com

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Response by kiz10014
about 16 years ago
Posts: 357
Member since: Apr 2009

Mortgage obtained through wells fargo, sold to fannie, still serviced by wells

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Response by shong
about 16 years ago
Posts: 616
Member since: Apr 2008

They allow assigning the mortgage.

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Response by kiz10014
about 16 years ago
Posts: 357
Member since: Apr 2009

Thanks shong, does the new mortgage broker go to wells or fannie for the signoff

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