Finance
What is a wraparound mortgage (all-inclusive deed of trust) in Nevada seller financing?
AA mortgage that wraps around the property's perimeter
BA new, larger loan that 'wraps around' and includes the existing first mortgage, with the seller continuing to pay the original loan while the buyer pays the seller✓ Correct
CA government program wrapping multiple loans into one
DA homeowner's warranty that wraps all property systems
Explanation
A wraparound (or all-inclusive trust deed/AITD) is a form of seller financing where a new larger loan wraps around an existing underlying mortgage. The buyer makes payments to the seller, who uses part to pay the underlying loan. Risk: due-on-sale clauses may be triggered.
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