Finance
A Utah 'wraparound mortgage' involves the seller:
APaying off their existing loan and providing a new loan to the buyer
BCarrying back a new mortgage that includes (wraps around) the existing first mortgage✓ Correct
CRefinancing before the sale to lower the interest rate
DTransferring the deed without any mortgage
Explanation
A wraparound mortgage is a seller-financed instrument where the seller creates a new mortgage to the buyer at a higher rate while continuing to make payments on the underlying first mortgage, often without paying it off.
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