FrontDoor.com

Waive -- To give up a claim or right voluntarily, to relinquish. A waiver is a document that evidences that relinquishment.

Walk-through inspection -- A final walk-through immediately prior to closing to verify that no changes have taken place and no new damage has occurred.

Wear and tear -- Normal use and the resulting reduction in value of a property.

Wraparound mortgage -- A mortgage that encompasses the balance of one mortgage plus an additional mortgage loan. Payments are then made to the mortgagee of the wraparound mortgage, who forwards appropriate portions of that money to the mortgagee of the first mortgage.

<< V I X >>