wraparound mortgage

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.

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wrapwraparound
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Meanings

nounwraparound mortgage (plural wraparound mortgages)

plural wraparound mortgages

  1. 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.

    Synonyms: wrap, wraparound

Synonyms & antonyms

nounA 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.

Similar
wrapwraparound
Also see
wraparound
Cite this entry
APA

wraparound mortgage. (n.d.). In WatkinsX Dictionary. Retrieved November 5, 2026, from https://dictionary.watkinsx.com/word/wraparound%20mortgage

MLA

“wraparound mortgage.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/wraparound%20mortgage. Accessed November 5, 2026.

Chicago

WatkinsX Dictionary, s.v. “wraparound mortgage,” accessed November 5, 2026, https://dictionary.watkinsx.com/word/wraparound%20mortgage.

Source: wraparound mortgage on Wiktionary, CC BY-SA 4.0.