A glossary of real estate and mortgage terms for home buyers and sellers
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| Term | Definition |
|---|---|
| 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. |
Glossary 2.64 is technology by Guru PHP
