Finance
In NC, a 'purchase money second mortgage' may be used by a seller to:
ARefinance their existing mortgage
BProvide seller financing for a portion of the purchase price, typically in addition to the buyer's first mortgage✓ Correct
CAvoid paying property taxes
DLower the property's sale price
Explanation
A purchase money second mortgage (seller carryback) is a second lien provided by the seller to bridge the gap between the buyer's first mortgage and the purchase price — a form of seller financing.
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