Finance
In Louisiana, a 'wraparound mortgage' involves:
AA mortgage on a property that wraps around the perimeter of the land
BA new mortgage that includes the existing mortgage balance, with the seller continuing to pay the original mortgage✓ Correct
CA second mortgage that exceeds the first mortgage amount
DA government-insured mortgage program
Explanation
A wraparound mortgage is a seller-financed arrangement where the seller creates a new mortgage that includes (wraps around) the existing mortgage. The buyer makes payments to the seller, who continues making payments on the original loan.
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