Finance
An assumable mortgage in Nebraska allows:
AThe seller to retain ownership while the buyer makes payments
BThe buyer to take over the seller's existing mortgage with lender approval (or without, for FHA/VA loans meeting criteria)✓ Correct
CThe lender to increase the interest rate at will
DBoth buyer and seller to share responsibility for the loan
Explanation
An assumable mortgage allows the buyer to take over the seller's existing loan. FHA and VA loans are assumable; conventional loans typically have due-on-sale clauses preventing assumption without lender approval.
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