Finance
A Maine property owner sells their home and carries back a purchase money mortgage from the buyer. In this arrangement, the seller is acting as:
AA conventional lender
BThe mortgagee (lender)✓ Correct
CThe mortgagor (borrower)
DA guarantor
Explanation
When a seller 'carries back' a mortgage (seller financing), the seller acts as the mortgagee (lender) and the buyer acts as the mortgagor (borrower). The buyer pays the seller directly under the terms of the purchase money mortgage.
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