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wraparound mortgage

The Oxford Pocket Dictionary of Current English | 2009 | 219 words | Copyright

wrap·a·round mort·gage • n. a second mortgage held by a lender who collects payments on it and the first mortgage from the borrower. The lender makes the payments to the original mortgage holder.

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"wraparound mortgage." The Oxford Pocket Dictionary of Current English. 2009. Encyclopedia.com. 30 May. 2012 <http://www.encyclopedia.com>.

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