InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] A wraparound mortgage incorporates more than one equity. Posted by Ward-CA- on March 30, 2002 at 1:29 PM In Reply to: Wraparound Mortgage posted by Rick on March 30, 2002 at 9:12 AM : Ward, : In doing title research the other day, I came upon a mortgage that expressely noted that it was a "wraparound mortage" and then cited the book and page number of the senior mortgage being "wrapped". I found the satisfaction for the wraparound mortgage, but I couldn't find a satisfaction for the (senior) mortgage it was "wrapping". Could the wraparound be satisfied without the first being satisfied? : Thanks ---------------- Yes, the payoff of the equity in the "wraparound" mortgage will just extinguish that junior mortgage, leaving the initial senior mortgage intact until it is paid off. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : In doing title research the other day, I came upon a mortgage that expressely noted that it was a "wraparound mortage" and then cited the book and page number of the senior mortgage being "wrapped". I found the satisfaction for the wraparound mortgage, but I couldn't find a satisfaction for the (senior) mortgage it was "wrapping". Could the wraparound be satisfied without the first being satisfied? : : Thanks : ---------------- : Yes, the payoff of the equity in the "wraparound" mortgage will just extinguish that junior mortgage, leaving the initial senior mortgage intact until it is paid off. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.

Copyright © 1997-2002, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455