Wraparound Mortgage
When a seller keeps theexisting loan and continues to pay on it, whilegiving the buyer another mortgage. Also called:Wraparound Financing.
More Real Estate Definitons
ParapetTermite ShieldTerm MortgageAntitrustX-BracingProspectusHectareBed A TreeKey LotZoning MapWarranty DeedLien PriorityVendeeZoningTerminateWeatherstripsApplicationDiscount pointsResidenceHutchRiprapRecordationMeasuring LifeIndexingWifePublic RecordWater-GageReconditioningReplevinMagnet StoreJudgment ProofTreasury IndexUnderpinningGNMA IssuerQuoinNet AcreFree RentManagement FeeOathAeolian SoilFurlongUtilities