Finance
A wraparound mortgage in Oklahoma involves:
AA second mortgage that wraps around and incorporates an existing first mortgage✓ Correct
BA mortgage where the lender wraps the building in insurance
CA first mortgage with no monthly payments
DA mortgage that automatically adjusts to wrap the prime rate
Explanation
A wraparound mortgage is a form of seller financing where the seller creates a new mortgage that encompasses (wraps around) the existing first mortgage. The buyer makes payments to the seller, who continues to service the original loan.
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