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Wraparound mortgage

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Related terms

wraparound mortgage
Real estate; General

Results when an existing assumable loan is combined with a new loan, resulting in an interest rate somewhere between the old rate and the current market rate. The payments are ...

wraparound mortgage
Banking; Personal banking

A second mortgage that takes over the first. The first mortgage loan is not paid off. Instead, the borrower makes payments to the second mortgage lender for the debt service of ...

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Financial services; General Finance

The seller of an option, usually an individual, bank, or company that issues the option and consequently has the obligation to sell the asset (if a call) or to buy the asset (if a ...

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A written conveyance of title to real estate property, but not its possession, to secure the payment of a debt or the performance of some obligation. Distinguished from a lien in ...

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Economy; International economics

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