Updated about 8 years ago on . Most recent reply
Wrap around mortgages
Who pays the insurance and property taxes on a wrap around mortgage? As of now, my taxes and insurance is not financed into my loan. If I owner finance and do a wrap around mortgage who's responsible for the taxes and insurance?
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@Belinda R. You would be a mortgage/lien holder on their policy, as would your underlying mortgage. They would get paid out first though