How to pronounce “wraparound mortgage”

Meaning

• [Noun]
• A form of mortgage in which the seller of a property extends to the buyer a junior mortgage which exists in addition to any superior mortgages already secured on the property. The seller accepts a secured promissory note from the buyer for the amount due on the underlying mortgage plus an amount up to the remaining purchase-money balance.

Practice Nearby Words

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Similar Sounds

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