Finance (alternative)
In Maryland, a 'wraparound mortgage' involves:
AA new mortgage that wraps around the building's exterior walls
BA new loan that includes (wraps around) an existing underlying loan, with the seller continuing payments on the original while the buyer pays the wraparound✓ Correct
CA mortgage that covers multiple states
DA government wrap-around loan program
Explanation
A wraparound mortgage is a form of seller financing where the new loan amount includes the existing mortgage balance. The buyer makes payments to the seller, who remains obligated on the original underlying mortgage.
Related Maryland Finance (alternative) Questions
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