Profile picture for user0120623

I am in California, and was told that a "Wrap" is now illegal, is this true?

It seemed to be a great way to purchase a house.
thanks!
  • June 24 2012 - Palm Desert
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Answers (4)

I agree with Diane and Wet, and I have to say, Dan, you made me laugh...
  • July 28 2013
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Wrap around loans are no longer done in Southern California. Escrow companies and Brokerage firms will not do these. This stopped some time ago.
  • August 10 2012
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Profile picture for wetdawgs
Are you talking about a wrap around mortgage?  

Seems with such low interest rates, it is something that even if legal, it wouldn't be attractive.
  • June 24 2012
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Profile picture for the_country_hick
Contact your local representative and ask. They can find out easily.

I would say no as a paint job should not be regulated (except by HOA rules) but in Cali anything is possible.
  • June 24 2012
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