Wraparound Mortgage
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T2MD370MB3H
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Geliefert zwischen Mi., 29.10.2025 und Do., 30.10.2025
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High Quality Content by WIKIPEDIA articles! A wrap-around mortgage, more-commonly known as a "wrap", is a form of secondary financing for the purchase of real property. The seller extends to the buyer a junior mortgage which wraps around and exists in addition to any superior mortgages already secured by the property. Under a wrap, a seller accepts a secured promissory note from the buyer for the amount due on the underlying mortgage plus an amount up to the remaining purchase money balance. The new purchaser makes monthly payments to the seller, who is then responsible for making the payments to the underlying mortgagee(s). Should the new purchaser default on those payments, the seller then has the right of foreclosure to recapture the subject property. Because wraps are a form of seller-financing, they have the effect of lowering the barriers to ownership of real property; they also can expedite the process of purchasing a home.
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GarantieWeitere Informationen
- Allgemeine Informationen
- GTIN 09786130552459
- Editor Lambert M. Surhone, Miriam T. Timpledon, Susan F. Marseken
- EAN 9786130552459
- Titel Wraparound Mortgage
- Herausgeber Betascript Publishing
- Anzahl Seiten 116
- Genre Wirtschaft
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