Speak The Mortgage Lingo: Mortgage Glossary W,X,Y,Z

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Wraparound Results when an existing assumable loan is combined with a new loan, resulting in an interest rate somewhere between the old rate and the current market rate. The payments are made to a second lender or the previous homeowner, who then forwards the payments to the first lender after taking the additional amount off the top.

Zoning The division of a city or county by legislative regulations into areas (zones) specifying the uses allowable for the real property in these areas.