Dictionary - W

Mortgage terms and definitions for home buyers, home sellers, and real estate consumers. Use the links below to find the word you're looking for.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Waiver-
Relinquishment of a right.

Warranty deed-
A deed conveying the title to a property with a warranty of clean, clear marketable title.

Wraparound-
The debt secured includes an existing debt already on the property. The payments made to the holder of the wraparound include payments due on the existing loan and the holder must forward the appropriate portion of each payment to the existing note holder. Often used to avoid a prepayment penalty or a due on sale clause. Can refer to a wraparound deed of trust or contract for deed.

 
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