Governor Cuomo proposed to expand the mortgage relief options available to
struggling ‘underwater’ homeowners, who owe more than the current market value
of their homes. Using “Shared Appreciation” mortgage modifications banks and
mortgage servicers reduce the amount of principal outstanding on a borrower’s
mortgage in exchange for a share of the future increase in the value of the
home.
An informational blog pertaining to foreclosure law and foreclosure defense practice.
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