In this case I am the seller. I sold a property with my mortgage still in place. I guess this is one of the problems with doing a wrap because my lender will not accept the new buyers insurance policy even though my lender is stated as being in the first position on the insurance policy. They insist that I must obtain my own policy on the house even though I no longer own it. I thought I understood the pros and cons to doing a wrap but it looks like I failed to recognize the insurance problem. Live and learn I guess. Take note if you have thought about doing a wrap.