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What is a wrap around mortgage?
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TOPIC: What is a wrap around mortgage?
#86
What is a wrap around mortgage? 2 Years ago  
I am looking into real estate and heard the term "wraparound mortgage any one know what this means ?
lawss
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#89
Re: What is a wrap around mortgage? 2 Years ago  
sellfin
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#94
Re:What is a wrap around mortgage? 1 Year, 11 Months ago  
When someone sells a home that is already financed by a note/mortgage, the lien remains in place and the new lender may make the payments to the old or the original lender.
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#147
Re:What is a wrap around mortgage? 1 Year, 10 Months ago  
a wrap around mortgage is a loan within a loan. Meaning, you are paying on a loan to a private lender while the private lender is paying on the original loan for the same piece of property or real estate. This is is useful strategy for investor because it allows them to maintain a piece of real estate while another party is covering the costs. This can be quite beneficial to both parties however, because in many cases the person paying the private lender does not meet bank requirements. By going this route, their credit is improving and they are creating equity in their own property. It really can be a win win for all parties.
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