Finance
In NJ, a 'blanket mortgage' covers:
AA single parcel with multiple buildings
BTwo or more properties under a single mortgage, often used by developers with a release clause allowing individual properties to be sold and released from the mortgage upon partial payoff✓ Correct
COnly residential properties
DA government-backed portfolio loan
Explanation
A blanket mortgage encumbers multiple properties. Developers use them for subdivision financing with release clauses allowing individual lots to be released from the mortgage as they are sold, upon payment of a specified release price.
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