Finance
A 'wraparound mortgage' in Alaska involves:
AA mortgage that includes all property improvements
BA new, larger mortgage that encompasses an existing mortgage, with the seller collecting payments from the buyer✓ Correct
CA second mortgage that is subordinate to the first
DA mortgage with a variable rate that adjusts monthly
Explanation
A wraparound mortgage is a seller-financing arrangement where the seller creates a new mortgage that 'wraps around' an existing mortgage. The seller continues to pay the original mortgage from the buyer's payments, keeping the spread as profit. The buyer's loan amount exceeds the existing balance.
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