New York

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New York now allows shared appreciation mortgage modifications 

Aug 01, 2014By

Per the new rules, each shared appreciation agreement must contain “a conspicuous legend at the top of the agreement printed in at least fourteen-point type, consisting of substantially the following language: ‘IN THIS AGREEMENT, YOU ARE GIVING AWAY SOME OF ANY FUTURE APPRECIATION IN THE VALUE OF YOUR HOME. PLEASE READ CAREFULLY.'”

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