Atype of junior mortgage in which the existing mortgage amount, plus any additional purchase funds, is loaned to a buyer by the seller is known as:

Wraparound Mortgage

Explanation: Wraparound Mortgage are a type of junior loan usually used to refinance a property. The amount on the existing mortgage is summed up with other additional purchase value and loaned out to the buyer. Wraparound mortgage often arises when existing cannot be settled or paid off. The seller is issued a legal 'I Owe You' (IOU) detailing the total amount called a Promissory Note.

countries such as spain, france and portugal colonized the region. although most of latin america was colonized by spain, the countries of portugal and france also had major influences on the region. due to war and disease, native populations were decimated.

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