Finance
An Indiana seller who takes back a purchase money mortgage is acting as:
AA co-borrower on the buyer's bank loan
BThe lender — receiving the buyer's promissory note and mortgage, and financing part of the purchase price✓ Correct
CA guarantor for the buyer's loan
DA trustee for the buyer's escrow
Explanation
Seller financing (purchase money mortgage) occurs when the seller accepts a promissory note from the buyer, secured by a mortgage on the property, instead of receiving the full purchase price in cash. The seller becomes the lender.
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