"wraparound mortgage" meaning in English

See wraparound mortgage in All languages combined, or Wiktionary

Noun

Forms: wraparound mortgages [plural]
Head templates: {{en-noun}} wraparound mortgage (plural wraparound mortgages)
  1. A form of mortgage in which the seller of a property extends to the buyer a junior mortgage which exists in addition to any superior mortgages already secured on the property. The seller accepts a secured promissory note from the buyer for the amount due on the underlying mortgage plus an amount up to the remaining purchase-money balance. Wikipedia link: wraparound mortgage Synonyms: wrap, wraparound
    Sense id: en-wraparound_mortgage-en-noun-p1gJLYm8 Categories (other): English entries with incorrect language header

Inflected forms

Download JSON data for wraparound mortgage meaning in English (1.1kB)

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      "glosses": [
        "A form of mortgage in which the seller of a property extends to the buyer a junior mortgage which exists in addition to any superior mortgages already secured on the property. The seller accepts a secured promissory note from the buyer for the amount due on the underlying mortgage plus an amount up to the remaining purchase-money balance."
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        ],
        [
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        ],
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          "promissory note",
          "promissory note"
        ],
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        ]
      ],
      "synonyms": [
        {
          "word": "wrap"
        },
        {
          "word": "wraparound"
        }
      ],
      "wikipedia": [
        "wraparound mortgage"
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    }
  ],
  "word": "wraparound mortgage"
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{
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  ],
  "word": "wraparound mortgage"
}

This page is a part of the kaikki.org machine-readable English dictionary. This dictionary is based on structured data extracted on 2024-05-05 from the enwiktionary dump dated 2024-05-02 using wiktextract (f4fd8c9 and c9440ce). The data shown on this site has been post-processed and various details (e.g., extra categories) removed, some information disambiguated, and additional data merged from other sources. See the raw data download page for the unprocessed wiktextract data.

If you use this data in academic research, please cite Tatu Ylonen: Wiktextract: Wiktionary as Machine-Readable Structured Data, Proceedings of the 13th Conference on Language Resources and Evaluation (LREC), pp. 1317-1325, Marseille, 20-25 June 2022. Linking to the relevant page(s) under https://kaikki.org would also be greatly appreciated.