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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Wrap-Around Mortgage

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A wrap around mortgage involves the borrower taking a second mortgage on the property and the new lender assumes the responsibility for the original mortgage, so that the borrower only has to make one overall payment to cover both mortgages.

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