Finance
What is a 'wraparound mortgage' and how might it be used in Kansas?
AA mortgage that covers multiple properties
BA financing technique where a new, larger mortgage 'wraps around' an existing mortgage; the buyer makes payments to the seller who continues paying the underlying loan✓ Correct
CA government loan program for renovation
DA second mortgage with a floating rate
Explanation
A wraparound (all-inclusive trust deed) involves a seller keeping their existing mortgage while extending a larger new mortgage to the buyer. The buyer makes one payment to the seller, who continues paying the original lender.
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