AITD – All Inclusive Trust Deed
All-Inclusive Trust Deeds (AITDs) An All-Inclusive Trust Deed (AITD), also known as a wraparound mortgage or overriding mortgage, is a flexible debt instrument and security device used in real estate transactions, particularly when traditional financing is scarce or credit markets are tight. The AITD is a form of seller carryback financing where the seller acts […]
– Wrap
Wrap A wrap means a wrap around mortgage. It’s called a wrap because it’s a type of seller financing where the seller agrees to create a brand new mortgage that wraps around the existing financing. The existing financing could be the first mortgage or first and second mortgage. You need to get permission from the […]