Finance
A purchase-money mortgage is one in which:
AThe buyer obtains financing from a bank before the sale
BThe seller provides financing directly to the buyer as part of the purchase transaction✓ Correct
CThe buyer uses funds from a retirement account
DThe lender is the federal government
Explanation
A purchase-money mortgage is one where the seller finances part of the purchase price, taking back a mortgage from the buyer. This is also known as seller financing or owner financing.
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