Real Estate Glossary



  Wraparound Mortgage

A mortgage that includes the remaining balance on an existing first mortgage plus an additional amount requested by the mortgagor. Full payments on both mortgages are made to the wraparound mortgagee, who then forwards the payments on the first mortgage to the first mortgagee.

 

[ Back To Real Estate Glossary ]

THE SCHACHTE COMPANY
PROVIDING PROFESSIONAL REAL ESTATE SERVICES IN THE CHARLESTON AREA FOR MORE THAN 130 YEARS.


Home

Real Estate Websites by iHOUSEweb, Inc. ®

Site Admin Menu