Wrap around Mortgage?

Answer

A wrap around mortgage is a mortgage in which the lender assumes the existing mortgage. This means that the lender will be paying the payments for the existing mortgage. In this type of situation the original mortgage is not paid off at the time of sale, payments continue to be made as they originally were.
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Ask.com Answer for: wrap around mortgage
What Is a Wrap Around Mortgage?
When a buyer is not able to obtain traditional financing for enough money to cover the purchase price of a home, a wraparound mortgage is one of the creative financing options that can make the purchase possible. The wraparound mortgage allows the buyer... More »
Source: www.ehow.com
Q&A Related to "Wrap around Mortgage?"
A wrap around mortgage is the term used to describe a mortgage that includes both an old mortgage and a new mortgage on top of it. It is common when a person buys a home that already
http://answers.ask.com/Business/Real_Estate/what_i...
A wraparound mortgage is a type of seller financing in which the seller of the property has an existing mortgage on the property and the buyer assumes this mortgage and only has to
http://www.ehow.com/about_5389592_wrap-around-mort...
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
http://answers.yahoo.com/question/index?qid=200607...
Only a few loans are assumable, FHA being one... I've never heard the term you used, so I can't say that is what it is- 'assumable'- but there is no risk involved if that is the case
http://www.zillow.com/advice-thread/What's-a-wrap-...
Explore this Topic
A wrap around mortgage is a type of mortgage where the lender becomes responsible for a mortgage. A new mortgage is wrapped around an existing mortgage. ...
A wrap around mortgage is the term used to describe a mortgage that includes both an old mortgage and a new mortgage on top of it. It is common when a person buys ...
A wrap around mortgage is the term used to describe a mortgage that includes both an old mortgage and a new mortgage on top of it. It is common when a person buys ...
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