Finance
What is a 'wraparound mortgage' in Delaware real estate?
AA second mortgage that wraps around the first mortgage, with the seller continuing to pay the first while collecting from the buyer✓ Correct
BA mortgage that covers multiple properties
CA mortgage with adjustable terms that wrap around market rate changes
DA construction loan that wraps around the land loan
Explanation
A wraparound mortgage allows a buyer to take out a new (larger) mortgage from the seller, which 'wraps around' the existing first mortgage. The seller collects the new payment and continues making the original mortgage payment.
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