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Description wrap around mortgage form
A wraparound mortgage is a junior encumbrance that is ordinarily made when property will support additional financing, and the mortgagor does not want to prepay a favorable existing mortgage obligation but needs additional cash, or where the existing obligation precludes prepayment or contains an excessive prepayment penalty. In such an instrument, the wraparound beneficiary charges interest on the entire amount of the wraparound loan and agrees to make the principal and interest payments on the existing prior encumbrance as it collects principal and interest payments from the mortgagor.
- View Mortgage Securing Guaranty of Performance of Lease
- View Request to Lender or Loan Servicer for Loan Modification Due to Financial Hardship - Requesting Change to Fixed Rate of Interest of Adjustable Rate
- View Complaint to Compel Mortgagee to Execute and Record Satisfaction and Discharge of Mortgage
- View Mortgage Loan Commitment for Home Equity Line of Credit
- View Mortgage of a Condominium Unit
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