Finance
A wraparound mortgage is BEST described as:
AA loan that wraps around the property's perimeter
BA new mortgage that includes (wraps around) an existing mortgage, with the seller continuing to pay the underlying loan✓ Correct
CA second mortgage taken out after closing
DA mortgage that adjusts based on property value changes
Explanation
A wraparound (all-inclusive) mortgage is a form of seller financing where the seller creates a new mortgage encompassing the existing loan. The buyer makes payments to the seller, who continues paying the original lender.
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