_________________ is a special variation on a second mortgage. In this form, the new lender assumes the original or first mortgage and has the responsibility of collecting all payments and remitting a portion of these payments to the first lender.

Question

Quizplus · Accepted Answer

A wrap-around loan is a type of secondary financing where the new lender assumes the original mortgage and collects payments from the borrower, then pays the original lender.

_________________ Is a Special Variation on a Second Mortgage