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Rainmaker
808,903
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

I have not, but I wouldn't want to be involved with one without an attorney. Many aren't actually allowed based on what is written in the terms of the current loan and like Fred Griffin said, it can violate the Due on Sale Clause in most loans these days.  They are messy business in my opinion and not my area of expertise. -Kasey

Feb 16, 2017 01:00 PM
Rainmaker
2,166,250
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

No 

Feb 16, 2017 05:23 AM
Rainmaker
4,505,696
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

No. Why do you ask?

Feb 16, 2017 03:38 AM
Ambassador
4,570,339
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

No, I haven't heard of that since I took my classes for my license!!

Feb 15, 2017 09:20 PM
Rainmaker
1,708,245
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Never.

Feb 15, 2017 07:22 PM
Rainmaker
4,400,776
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

No.

Feb 15, 2017 05:44 PM
Ambassador
2,609,588
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

No.  Most of them are violations of the due on sale clause.  See an Attorney before playing that game.

Feb 16, 2017 07:08 AM
Rainmaker
916,348
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Yes. Over ten years ago they were not so uncommon.

But keep in mind, ten years ago my cat could get a mortgage.

In what context do you present this question?
Often, those outside the industry get exposed to new lending instruments before we do. Please share.

Feb 16, 2017 05:33 AM
Rainmaker
4,579,620
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Yes, but not on a single family home

Feb 16, 2017 04:46 AM
Rainmaker
1,027,535
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

I had a couple ofclients ask about them several years ago, but other solutions were found, so no, I have never been involved in a transaction with one. 

Feb 16, 2017 03:26 AM
Rainmaker
598,824
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

No but I've read about them and would sure like to do it some day.

Feb 15, 2017 09:07 PM
Ambassador
4,747,971
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

nope, no experience with them at all.

Feb 15, 2017 08:42 PM
Rainmaker
1,361,645
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I take place in Trader Joe's wraps about 3 times per week for lunch. Otherwise, no wraparounds experience.

Feb 15, 2017 07:45 PM
Ambassador
3,987,010
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Years ago when they were popular and financing was tough I did sell a couple of properties with this type of creative financing. I can't see that at today's low rates it would be necessary.

Feb 15, 2017 07:32 PM
Ambassador
5,763,754
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Yes, long ago.

Feb 17, 2017 11:10 PM
Rainmaker
634,382
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

No.

Feb 17, 2017 02:04 PM
Rainmaker
7,052,178
Roy Kelley
Retired - Gaithersburg, MD

Yes.

Feb 17, 2017 07:05 AM
Ambassador
4,316,415
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

abby tiscareno - not yet. Not so much known now-a-days.

Feb 16, 2017 10:24 PM
Rainmaker
3,986,000
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Yes

Feb 16, 2017 07:05 PM
Rainmaker
707,726
Sharon & Bruce Walter
Keller Williams Realty Lafayette, IN - Lafayette, IN
West Lafayette homes for sale

No we have not taken part in a wraparound mortgage.  

Feb 16, 2017 03:16 PM
Rainmaker
4,347,548
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

No have never been involve with one.

 

Feb 16, 2017 03:02 PM
Ambassador
3,993,172
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

No I haven't. 

Feb 16, 2017 03:01 PM
Rainmaker
1,431,861
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No.

Feb 16, 2017 09:45 AM
Rainmaker
5,580,934
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

no...never needed to for me or a client...

Feb 16, 2017 09:17 AM
Ambassador
1,906,630
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Not common these days.  Have never done it myself but have done other successful creative financing things.

Feb 16, 2017 08:11 AM
Rainmaker
1,466,027
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

abby tiscareno I have never taken part in a wrap, but I do know prople who have. It works only if a loan is assumable and it's not used to circumvent the lender. Using it to circumvent the lender will more than likely to enforce the Due on Sale clause.

Feb 16, 2017 06:29 AM
Rainmaker
4,799,732
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

No

Feb 16, 2017 06:10 AM
Rainmaker
3,386,578
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I have not seen it since the recession. Most often simply stated as a second mortgage. More often used when a seller can not sell their home or investment property, and helps a buyer qualify by giving them a second mortgage

Feb 16, 2017 06:09 AM
Rainmaker
4,362,208
Richard Weeks
Dallas, TX
REALTOR®, Broker

No

Feb 16, 2017 05:32 AM
Ambassador
1,616,504
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

not at this time

 
Feb 16, 2017 04:36 AM
Rainmaker
3,071,034
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

no

Feb 16, 2017 03:57 AM
Ambassador
956,133
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Yes, several years ago. 

Feb 16, 2017 03:52 AM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

no

Feb 16, 2017 03:51 AM
Rainmaker
1,559,728
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Years ago on a commercial property, but I heard it can be used for residential home purchases as well, for example, in situations when a buyer with a bad credit can not get a traditional funding. 

Feb 15, 2017 11:15 PM
Rainmaker
3,716,361
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

abby tiscareno I have not, yet.

Feb 15, 2017 05:52 PM