Finance (alternative)
In Maryland, a 'purchase money mortgage' given by the seller means:
AThe buyer uses government money to purchase
BThe seller is providing financing as part of the sale, essentially lending the buyer money to complete the purchase✓ Correct
CThe lender purchases the mortgage from the seller
DThe purchase price is applied to the mortgage balance
Explanation
A purchase money mortgage is seller financing — the seller acts as the lender, accepting a promissory note secured by a mortgage on the property instead of receiving full cash payment.
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