Finance
In West Virginia, a mortgage that allows the borrower to redraw funds up to the original loan amount as the principal is paid down is called a:
AReverse mortgage
BOpen-end mortgage✓ Correct
CWraparound mortgage
DParticipation mortgage
Explanation
An open-end mortgage allows the borrower to re-borrow amounts up to the original loan amount as principal is paid down, similar to a revolving credit line. It is used to secure future advances as well as the initial loan amount.
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