Finance
A 'wraparound mortgage' or 'all-inclusive trust deed' in Montana is a form of seller financing where:
AThe new loan completely replaces the existing loan
BA new loan wraps around the existing loan, with the seller continuing to pay the underlying loan from the buyer's payments✓ Correct
CThe buyer receives two separate mortgages
DThe lender insures both the existing and new loan
Explanation
A wraparound (all-inclusive trust deed) is a form of seller financing where the new loan encompasses the existing loan balance. The buyer pays the seller on the larger wraparound loan, and the seller continues paying the original underlying lender.
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