[DEMO] Wraparound mortgage — East Nashville bungalow

• The underlying loan remains in place and the seller wraps a new note around it. Same due-on-sale exposure as subject-to plus an additional payment chain — buyer pays seller, seller pays underlying lender.
• If the seller stops paying the underlying loan, the buyer can lose the property even while current on the wrap. Use a third-party loan servicer to enforce payment flow.
• Wraparounds are restricted or specially regulated in some states (e.g. Texas SB 43). Confirm legality and required disclosures in the property's state.

The Creative Marketplace does not verify any of the above. This is plain-English risk education, not legal advice — get a licensed attorney in the property’s state to review your specific transaction. See our Creative Finance Disclaimer.