Wrap-around loans are a form of seller financing where Instead of applying for a conventional bank loan, a buyer will sign a loan with the seller. A wrap-around loan takes into account the remaining balance on the seller’s existing loan at its contracted interest rate and adds an incremental balance to arrive at the total purchase price. Under a wrap, a seller accepts a secured promissory note from the buyer for the amount due on the underlying loan plus an amount up to the remaining purchase money balance. The new purchaser makes monthly payments through Canyon State who in turn has the fiduciary responsibly for making the payments to the seller and underlying lender(s)
Locally owned and operated, Canyon State Servicing Co, LLC., is one of the largest independent servicing companies in Arizona. With a combined expertise level of 135+ years supporting the account servicing industry, Canyon State continues its pursuit of excellence one satisfied client at a time. Our reputation is built on our outstanding customer service levels. We pride ourselves on answering our phones promptly, knowing our customers, responding quickly and accurately to requests while never losing sight of the importance of courtesy.
