Finance
In South Carolina, a 'wraparound mortgage' involves:
AA conventional mortgage that includes both land and improvements
BA new mortgage that includes and encompasses an existing mortgage on the property✓ Correct
CA mortgage that wraps around the entire neighborhood
DA blanket mortgage covering multiple properties
Explanation
A wraparound mortgage is a form of seller financing where the seller creates a new mortgage that includes the existing first mortgage balance plus additional financing. The buyer makes payments to the seller, who continues to service the underlying mortgage.
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