Real Estate Glossary



  Wraparound Mortgage

A mortgage that includes the remaining balance on an existing first mortgage plus an additional amount requested by the mortgagor. Full payments on both mortgages are made to the wraparound mortgagee, who then forwards the payments on the first mortgage to the first mortgagee.

 

[ Back To Real Estate Glossary ]


Home | Relocation | Mortgage Calculator | Mortgage Rates | Real Estate News | Schools | Local Phone Numbers | Weather Report | Newsletter | About Us

Real Estate Websites by iHOUSEweb, Inc. ®

Site Admin Menu