In New York, CEMA (Consolidation Extension and Modification Agreement) is used to:

CEMA is not used for foreclosing on property. Foreclosure is a legal process initiated by lenders when borrowers default on their loans. CEMA, or Consolidation Extension and Modification Agreement, is a refinancing tool specific to New York that helps reduce mortgage recording taxes by combining existing and new mortgages. Foreclosure proceedings follow entirely different legal procedures and documentation requirements.

Transferring property involves changing ownership through sale or gift, which is unrelated to CEMA. CEMA specifically addresses refinancing existing mortgages, not property transfers or changes in ownership.

Recording liens is a standard procedure for establishing security interests in property, but CEMA is specifically designed to reduce mortgage recording tax during refinancing, not as a general method for recording liens.