Wrap-Around Mortgage for Condo Project (Canada)
Use this template to create a wrap-around mortgage for a condominium project specifically for use in Canada. Key provisions of this mortgage include (among others):
This is a Canadian legal mortgage document in MS Word format.
- The loan includes the remaining balance of an existing first mortgage plus an additional amount requested by the mortgagor / borrower.
- Full payments on both mortgages are made to the wraparound mortgagee / lender, who then forwards the payments for the first mortgage to the first mortgagee.
- Interest is calculated and compounded monthly.
- Property taxes are to be paid by the mortgagor in 12 equal monthly instalments.
- The mortgagee may pay the taxes as they come due and charge interest at the mortgage rate on any debit balance in the tax account.
This is a Canadian legal mortgage document in MS Word format.
File Details
| Price: | $25.00(CAD) |
| Document ID: | 249 |
| Downloads: | 19 |
| Date Added: | 2002-01-01 |
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