Finance
In NC, 'seller financing' or a 'purchase money mortgage' occurs when:
AThe buyer's lender provides 100% financing
BThe seller provides all or part of the purchase financing to the buyer✓ Correct
CA government agency guarantees the buyer's mortgage
DThe buyer's employer lends money for the down payment
Explanation
In seller financing (purchase money mortgage), the seller acts as the lender, allowing the buyer to pay the purchase price over time. The buyer gives the seller a mortgage or deed of trust on the property. This can help buyers who cannot obtain traditional bank financing.
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