Wraparound

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Related to Wrap Around: Wrap Around Mortgage

Wraparound

A financing device that permits an existing loan to be refinanced and new money to be advanced at an interest rate between the rate charged on the old loan and the current market interest rate. The creditor combines or "wraps" the remainder of the old loan with the new loan at the intermediate rate.

Wraparound

A loan whereby the borrower re-finances a previous loan at an interest rate between the current market rate and the interest rate at which the first loan was made, which is presumably lower. This allows the borrower to re-finance the first loan without being forced to accept a significantly higher interest rate.
References in periodicals archive ?
Through The Wrap Around Services Model lens, low-income, high-minority communities are seen as client assets when considering healthcare improvement and maintenance.
1) Susan Altholtz of the Southern California Herpetology Association allows Kassi, her 5-year-old boa, to wrap around her neck.
This revolutionary machinery integrates a belt that allows it to change configuration from wrap around, to tray+film, to film in a few seconds only by covering the chains.
Straps can work down past the lip of the doghouse cover and wrap around the PTO shaft.
It's a concept that the architect has developed and taken further in the translucent membrane he proposes to wrap around the former Huntington Hartford Gallery in New York, a marble-clad Venetian pastiche by Edward Durrell Stone, to provide a new home for the Museum of Contemporary Arts and Design.
Located a block from the World Trade Center site, the corner store features wrap around windows on both Fulton Street and Broadway.
The treatment is accomplished with three compression/decompression cuffs that wrap around the legs while the patient is lying down.
These large cells send out thin fingers of myelin that wrap around axons in concentric circles to form the sheaths--which are conduits for messages between the central nervous system and the rest of the body.