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waiver of lien
The written evidence from a contractor (or supplier of material) surrending the right of lien to enforce collection of debt against real property.

wraparound mortgage
A mortgage that includes the remaining balance on an existing first mortgage plus an additional amount requested by the mortgagor. Full payments on both mortgages are made to the wraparound mortgagee, who then forwards the payments on the first mortgage to the first mortgagee.

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