Finance
A wraparound mortgage in Georgia involves:
AA second mortgage that wraps around the first
BA new, larger loan that includes and wraps around an existing loan, often used in seller financing✓ Correct
CAn FHA loan wrapped with private mortgage insurance
DA loan that adjusts with a rate cap
Explanation
A wraparound mortgage includes an existing loan within a new, larger loan. The buyer makes payments on the wrap loan to the seller, who continues paying the underlying loan. Common in creative seller financing.
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