wrap-around mortgage

Definition of "wrap-around mortgage"
  1. A type of mortgage that combines the debt from a previous mortgage with the debt from a new loan
How to use "wrap-around mortgage" in a sentence
  1. In order to acquire a larger property, the buyer decided to apply for a wrap-around mortgage.
  2. The wrap-around mortgage allowed the homeowners to consolidate their debts into a single payment.
  3. A wrap-around mortgage can be a convenient financial solution for individuals who want to avoid paying off their original mortgage before securing another loan.
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