Freedom Financial Services

Friday, May 18th

Testimonials:
"I would recommend Freedom...they’ll tell you exactly what they can do for you, they’ll be completely honest with you." - Debbie ...
"...in a lender, you look for trust...and you look for communication and you’re going to get both of those at Freedom Financial Services." - Ri...
"We’ve been very pleased with Freedom Financial for years. They’re great people to work with." - Denise and Willard ...
 "We've dealt with other finance companies and banks. But at Freedom, it's like they've known you forever...." - Larry ...
 "When we worked with Freedom they were outstanding...whatever they said they would do, they did." - Farrah, Trinidad ...
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W

Wraparound Mortgage - A loan arrangement whereby the existing loan is retained and a new loan is added to the property. Example: The seller sells his/her property for $200,000. The buyer puts $80,000 down. The seller has an existing loan balance of $100,000 for a remaining period of twenty-five years at an interest rate of 6 percent. The seller then makes a wraparound mortgage to the buyer, (where the seller acts as a lender) for $120,000 at 8 percent. The seller has to continue making payments on his old loan. They buyer has to pay the seller on the new loan. The buyer may, at a later date, refinance the property and close both loans.