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GLOSSARY: Enter search term:
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Glossary Term: WRAPAROUND

Definition(s) for WRAPAROUND:


1. ) A financing device that permits an existing loan to be refinanced and new money to be advanced at an interest rate between the rate charged on the old loan and the current market interest rate. The creditor combines or 'wraps' the remainder of the old loa

2. ) A financing device that permits an existing loan to be refinanced and new money to be advanced at an interest rate between the rate charged on the old loan and the current market interest rate The creditor combines or wraps the remainder of the old loan with the new loan at the intermediate rate

3. ) A financing device that permits an existing loan to be refinanced and new money to be advanced at an interest rate between the rate charged on the old loan and the current market interest rate The creditor combines or wraps the remainder of the old loan with the new loan at the intermediate rate


See Also:
WRAPAROUND MORTGAGE, WRAPAROUND ANNUITY


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