Finance
A Vermont seller agrees to 'carry back' a second mortgage for the buyer. This is an example of:
AA conventional bank loan
BSeller financing (purchase money mortgage)✓ Correct
CA VHFA first-time buyer program
DAn FHA loan assumption
Explanation
Seller financing (also called a purchase money mortgage) occurs when the seller extends credit to the buyer as part of the purchase price, often in the form of a second mortgage held by the seller. This can facilitate sales when conventional financing is limited.
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