What is non-qualifying wraparound seller financing (Wally Wrap™)?
Wally Wraps™ are proven, non-qualifying seller financing transactions which have been utilized for more than 100 years as effective sales tools in commercial, raw land and residential real estate transactions. Under Wally Wraps™ an existing seller’s loan(s) (Prior Note(s)) are not assumed by the buyer, but a seller financed loan is stacked on the Prior Note(s). The Seller remains fully obligated for payments under the Prior Note(s) and no relationship is established between the buyer and seller lenders. The Buyer’s obligations are limited only to the terms of the Wrap note, which is payable to the Seller.
What Is The Wally Wrap™ System?
Is Transfer Of Ownership In Violation Of The “Due On Sale Clause” In A Residential Mortgage Illegal?
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