What's up BP family! Could someone explain how wrap mortgages work?

Say, for example, that Joe (who has bad credit) wants to buy a property, but needs Mike (who has great credit) to get the loan.

Can Mike get a loan from a lender, and pass it through to Joe?

Hello BP Family,To make a long story short, I have a Lender / Investor  that is willing to fund a million dollar deal. He asked that I provide him with an " Insurance Credit Wrap",,  This is something new to me, Im s...

I am looking to do a wrap around mortgage in Jackson, TN. Can anyone recommend a good RE lawyer to help with that??  

Hello BP world, am a newly investor in Dallas, Texas. We just completed our first rehab and are looking to refinance the loan from a HML and then owner Finance the property with a wrap around mortgage. Is there someon...

My boyfriend and I are moving - currently we live in a fixer upper he purchased a year ago. We have done a lot of work on it but it still needs a ton more done before it is ready to be rented out. He is in the process...

Hi guys,

I have a seller that has a HELOC of 144K with 18 years left and he is wiling to do a wrap with a 5 years balloon to a buyer(I'm just assigning the contract)

I'm too new to all this and I'm not sure if its ...

Hi All.
Wondering if you can wrap a mortgage in Louisiana and, if so, are there any attorneys or investors that have done so that I could connect with?
Thanks in advance!
Kris

I'm in negotiation w/ an out of state owner of a vacant but good condition house in the dfw area.His asking price-128 owner finance, 4.3% @12 years and 12k down, he refuses to stretch out the term... that was the firs...

Im trying to understand exactly how wrap round mortgages work. So I know that if I find a deal, I can buy it and then owner finance it out to someone who probably can't qualify for bank financing. To do this do I take...