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Mortgage
Terms
W
Waiver of Lien
The written evidence from a contractor (or supplier of material) surrendering
the right of lien to enforce collection of debt against real property.
Wraparound Mortgage
A mortgage that includes the remaining balance on an existing first mortgage
plus an additional amount requested by the mortgagor. Full payments on
both mortgages are made to the wraparound mortgagee, who then forwards
the payments on the first mortgage to the first mortgagee.
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