Finance
In Oregon, what is a 'wraparound mortgage' (all-inclusive trust deed)?
AA government-backed loan that includes property tax
BA seller-financed loan that 'wraps around' the seller's existing mortgage, with the seller continuing to pay the underlying loan from the higher payments received from the buyer✓ Correct
CA loan that refinances all of a borrower's debts into one mortgage
DA loan that covers both land and improvement value
Explanation
A wraparound (or all-inclusive trust deed/AITD) is a form of seller financing in which the seller keeps the existing mortgage and creates a new, larger mortgage for the buyer. The buyer pays the seller, who then continues to pay the underlying (wrapped) lender.
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