Finance
A wraparound mortgage in Virginia involves:
AA second mortgage that pays off the first mortgage
BA new mortgage that encompasses an existing mortgage, with the seller continuing to pay the underlying loan✓ Correct
CA mortgage with a rate that adjusts with market conditions
DA VA loan that wraps closing costs into the loan amount
Explanation
A wraparound mortgage (all-inclusive deed of trust) is a form of seller financing where the seller creates a new, larger mortgage that 'wraps around' the existing mortgage. The buyer pays the seller, and the seller continues paying the original lender.
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