Finance
A wraparound mortgage in Florida is an example of:
AA first mortgage issued by a conventional lender
BA form of seller financing that encompasses an existing underlying mortgage✓ Correct
CA government-backed loan program
DA reverse mortgage available to seniors
Explanation
A wraparound mortgage is a form of seller financing where the seller holds a new mortgage that 'wraps around' and includes the existing underlying mortgage. The buyer makes payments to the seller, who continues paying the original lender.
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