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wraparound mortgage

American

noun

a mortgage, as a second mortgage, that includes payments on a previous mortgage that continues in effect.

Etymology

Origin of wraparound mortgage

First recorded in 1970–75

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.