In a wrap-around mortgage, the seller has no liability on any of the mortgages on the property.

Name: In a wrap-around mortgage, the seller has no liability on any of the mortgages on the property.
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In a wrap-around mortgage, the seller remains liable for the original mortgage. The seller uses the money from the wrap-around mortgage to continue paying off the original mortgage, and the buyer pays the seller, who then pays the original lender.

In a Wrap-Around Mortgage, the Seller Has No Liability on Any