Finance
In Maryland, a 'purchase money second mortgage' occurs when:
AA buyer takes a second mortgage after settlement
BThe seller provides secondary financing as part of the purchase, taking a second lien position✓ Correct
CThe first lender provides a second loan
DA third party cosigns the mortgage
Explanation
A purchase money second mortgage is financing provided by the seller (or another party) at the time of purchase, taking a junior lien position behind the primary first mortgage.
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