When a buyer can’t qualify for a traditional mortgage loan, it can make for a rough sale for both the buyer and seller alike. While the situation may seem impossible, there may be another financing option for both parties to close the deal.
A wraparound mortgage can get the buyer the financing needed to purchase the home and can even make the seller a profit. However, there are several risks involved, so it’s important to know what you’re getting into before using it to buy or sell a home.
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