Dallas-Fort Worth Real Estate Investor Club

Wrap around mortgage questions

  • 09 May 2019 12:45 PM
    Message # 7331831

    Can anyone recommend a title company that will do a wrap around mortgage?

    Can anyone recommend an insurance company that is wrap friendly?

    Is anyone aware of a secure alternative to carrying two policies in this situation?

    Nick

    817-239-1433

    nardoyno@gmail.com

    Last modified: 09 May 2019 4:37 PM | rockne ardoyno
  • 10 May 2019 12:54 PM
    Reply # 7334091 on 7331831

    Nick:

    My attorney's title office has no problems closing wraps, I do them all the time. They are in Farmers Branch.  I don't know if that is the area you are looking for.

    For insurance, do you mean a policy that covers you while you are waiting to sell the property or for the homeowner once you sell it to them?  For the former, you can get a TDP1 policy and the latter will be a homeowner's policy.  My agent in Richardson has a good understanding of what I need when I do a wrap.

    You don't need two insurance policies once you sell the property.  The homeowner's policy will list you as a mortgagee.  That covers you for anything that might happen.

    Drop me an email at neil@propfinancing.com if you want contact info for any of my people.

    Thanks,
      Neil Aggarwal
      Property Financing, LLC

    Last modified: 10 May 2019 12:56 PM | Neil Aggarwal
  • 10 May 2019 1:37 PM
    Reply # 7334165 on 7331831
    Richard Kellett (Administrator)

    I HAVE AN ATTY. IN FORT WORTH WHO CAN HANDLE YOUR SITUATION.

    HIS NAME IS MARTIN A. GARCIA. HE CAN HELP YOU WITH ANY REAL ESTATE

    PROBLEM YOU HAVE. HIS OFFICE PHONE IS (817) 519-8803.

    CALL ME IF YOU NEED ADDITIONAL INFO.

    DICK KELLETT

    817*-915-0122

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