Difference between these - Posted by reisc

import · October 21, 2003, 3:23pm

Posted by reisc on October 21, 2003 at 22:43:44:

May be I am hung up on terminology, could the term “wrap” also be used in a situation where you purchse a property on a contract for deed and sell on a lease option? How about if you purchase sub2 and sell on a CFD or L/O?
Are all of these “wraps”?

Thanks

import · October 21, 2003, 3:23pm

Difference between these - Posted by reisc

Posted by reisc on October 21, 2003 at 15:23:01:

Could someone explain exactly what a “Wrap” is?

Thank you

import · October 21, 2003, 6:17pm

Re: Difference between these - Posted by Russ Sims

Posted by Russ Sims on October 21, 2003 at 18:17:57:

A “wrap” refers to a wrap around mortgage or wrap around financing. I buy a house and get it financed from a bank…I then resell the home on an owner contract to someone. I sold to them on a “wrap”. The financing was extended to me and I “wraped” it around to my buyer.