Finance
In Oklahoma, a seller who 'takes back' a mortgage or deed of trust from the buyer is engaging in:
AAn illegal form of financing
BSeller financing (purchase money mortgage), where the seller acts as the lender and the buyer makes payments directly to the seller✓ Correct
CA lease-option arrangement
DA USDA guaranteed loan
Explanation
Seller financing (purchase money mortgage) occurs when the seller lends part or all of the purchase price to the buyer. The buyer signs a promissory note and the seller holds a mortgage or deed of trust as security. This is legal and common when conventional financing is unavailable.
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