Definition of wraparound mortgage. Related Terms and Acronyms: debt consolidation The replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. It's also called a consolidation loan.
https://www.superbrokers.ca/library/glossary/terms/wraparound_mortgage.php
wraparound loan. Definition. A technique which permits an existing loan to be refinanced at an interest rate between the original loan rate and the currently prevailing market rate. Print Cite / Link.
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Wrap-Around Loan. Share. DEFINITION of 'Wrap-Around Loan'. A loan that is most commonly used with property with an outstanding loan. The seller lends the buyer the difference between the existing loan and the purchase price. The buyer's periodic loan payments are sufficient to repay the existing loan as well as the seller's loan to the buyer.
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DEFINITION of 'Wraparound Mortgage'. A type of loan that enables a borrower who is paying off an existing mortgage to obtain more financing from a second lender or seller.
http://www.investopedia.com/terms/w/wraparound-mortgage.asp
What is a wrap-around mortgage, and who is it good for?. A wrap-around mortgage is a loan transaction in which the lender assumes responsibility for an existing mortgage. For example, S, who has a $70,000 mortgage on his home, sells his home to B for $100,000. B pays $5,000 down and borrows $95,000 on a new mortgage.
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Related Terms and Acronyms: 1  debt consolidation The replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. It's also called a consolidation loan. 2  junior mortgage A loan that is subsequent to the claims of the holder of a prior (senior) mortgage.
https://www.superbrokers.ca/library/glossary/terms/wraparound_mortgage.php
WRAP AROUND LOANS. The Contract for Deed is often referred to as a wrap around loan because it includes or wraps around the existing loan on the property. Wrap around loans are very flexible. The existing financing is what it is, but the parties can agree on Contract for Deed loan terms different than the existing loan. Here are some examples:
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Related Terms and Acronyms: 1  debt consolidation The replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. 2  junior mortgage A loan that is subsequent to the claims of the holder of a prior (senior) mortgage. 3  loan servicing Supervising a loan after it has been made.
https://www.superbrokers.ca/library/glossary/terms/wraparound_mortgage.php
How Do Wrap-Around Loans Work? A wrap-around loan allows a person to buy a home without having to get a mortgage from a lender such as a bank or credit union. Instead, the seller of the home acts as the lender. Wrap-around mortgages can help buyers with bad credit and sellers who can't get rid of their homes, but they carry risks for both sides.
http://homeguides.sfgate.com/wrap-around-loans-work-2777.html
Wrap-Around Loan. DEFINITION of 'Wrap-Around Loan'. A loan that is most commonly used with property with an outstanding loan. The seller lends the buyer the difference between the existing loan and the purchase price. The buyer's periodic loan payments are sufficient to repay the existing loan as well as the seller's loan to the buyer.
http://www.investopedia.com/terms/w/wrap-around-loan.asp
definition wrap around loan
A wrap around loan is a technique which permits an existing loan to be refinanced at an interest rate between the original loan rate and the currently prevailing market rate. Wrap around loan is a technique which permits an existing loan to be refinanced at an interest rate between the original loan rate and the currently prevailing market rate.  