The first mortgage taken out by a housing cooperative. The mortgage is secured by the land and the building owned by the cooperative. Also called blanket loans or blanket debt.
Related information about underlying mortgage:
- Wraparound mortgage - Wikipedia, the free encyclopedia
Under a wrap, a seller accepts a secured promissory note from the buyer for the amount due on the underlying mortgage plus an amount up to the remaining ...
- Good Deal or Not? "$50366.79 underlying mortgage will
Mar 13, 2012 ... Good Deal or Not? “$50366.79 underlying mortgage will be deducted from the final sales price” edition.
- Underlying Mortgage: Definition from Answers.com
first mortgage when there is a wraparound mortgage . A wraparound mortgage for $100000 might include a $60000 underlying first mortgage in its balance,
- Underlying Mortgages
When your current underlying mortgage needs to be refinanced whether it is because a balloon payment is coming due, the building needs funds for capital ...
- underlying mortgage - Financial Dictionary - The Free Dictionary
In a mortgage-backed security, a mortgage or a piece of a mortgage that gives value to the security. For example, if a bank sells the mortgage on Joe's house to ...
- Owner Financing with an Underlying Mortgage
We are renting our house and want to buy it the owner said they would owner finance it. We just found out they have a mortgage on it, is this legal? We live in ...
- What is underlying mortgage? definition and meaning
Definition of underlying mortgage: The first mortgage taken out by a housing cooperative. The mortgage is secured by the land and the building owned by the ...
- Co-op Underlying Mortgage Transactions | Winter & Company
We assist you in refinancing the underlying mortgage of your co-op.