Finance
A Vermont wraparound mortgage (all-inclusive trust deed) involves:
AA standard first mortgage with PMI
BA new mortgage that encompasses and 'wraps around' an existing mortgage, with the seller continuing to pay the original mortgage✓ Correct
CA reverse mortgage for seniors
DA construction-to-permanent loan
Explanation
A wraparound mortgage is a seller-financing technique where the seller extends a new mortgage covering both the buyer's new financing and the existing underlying mortgage. The seller collects the full payment from the buyer and continues to service the original mortgage.
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