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A wrap-around mortgage is an example of creative financing. With a wrap-around mortgage, the original mortgage and the title remain in the seller’s name, and the seller continues to make payments.

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Answer: A "wrap around" mortgage is a new loan from the seller to the buyer which "wraps" the underlying loan. Most "wrap around" mortgages are for all or most of the sales price of the home, with little or no down payment from the buyer.

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A wrap-around loan is a type of mortgage loan that can be used in owner-financing deals. A wrap-around loan structure is used in an owner-financed deal when a seller has a remaining balance to pay.

The buyer sends mortgage payments directly to you. Your new mortgage, is considered to "wrap around" because it goes beyond your new property to also cover your old property. Wraparound mortgages are useful during slow housing markets and when a buyer doesn’t have the necessary credit to secure a traditional mortgage.

Wraparound mortgage A second mortgage that leaves the original mortgage in force. The wraparound mortgage is held by the lending institution as security for the total mortgage debt. The borrower makes payments on both loans to the wraparound lender, which in turn makes payments on the original senior.

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A wrap-around loan is a type of mortgage loan that can be used in owner-financing deals. This type of loan involves the seller’s mortgage on the home and adds an additional incremental value to.

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A wrap-around is attractive to lenders because they can leverage a lower interest rate on the existing mortgage into a higher yield for themselves. For example, suppose the $70,000 mortgage in the example has a rate of 6% and the new mortgage for $95,000 has a rate of 8%.

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