Wrap Around Mortgage

[Sean Moen]

I've been thinking about how to best utilize my current residence. I have a great locked in rate and want to use it to my advantage - without doing a traditional sale.

Has anyone - or is it possible - to sell my own house utilizing the wrap around mortgage principles?

I can see the advantages of being able to get a down payment to reinvest in a small MFR and I will be able to capitalize on my lower interest for some positive cash flow.

All of the disadvantages I can think of involve some upfront investment for legal advice and work, time for further education and that's about it.

Any feedback will be greatly appreciated.

Thanks all!

[Steve Babiak]

Originally posted by Sean Moen:

.... I have a great locked in rate and want to use it to my advantage - without doing a traditional sale.

Has anyone - or is it possible - to sell my own house utilizing the wrap around mortgage principles?

...

A "wrap" involves a a sale, so if you don't want to sell, you don't want a "wrap". Sounds like you should be shopping for a HELOC that you can tap for investment money.