A second mortgage, for an amount larger that the remaining balance on the existing first mortgage, usually payable to the debtor under the first mortgage who is also the seller of the property which secures the mortgage. The buyer makes payments to the seller, who is obligated under the law of the wrap around mortgage to make payments on the first mortgage. A wrap around mortgage may be used where the interest rate on the existing first mortgage is much lower than the current interest rates available on new loans, for which the buyer may be unable or unwilling to qualify. “Also known as All-Inclusive Deed of Trust.”