Underlying Mortgage


Definition of "Underlying mortgage"

Julia "Julie" Burkard real estate agent
Julia "Julie" Burkard, Real Estate Agent Newman Realty Inc

The first mortgage on property when other mortgages exist as well, as in the case of a wraparound loan. For example, the total amount financed might be %200,000 of which the first lien is for $80,000 while the balance of the wraparound is $120,000.

 

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