Finance
A Wisconsin seller who provides a seller take-back mortgage must be aware that the due-on-sale clause in a first mortgage may:
AAllow the seller financing to proceed automatically
BAccelerate the first mortgage if the property is transferred without the first lender's consent✓ Correct
CEliminate the need for buyer financing
DConvert the first mortgage to a land contract
Explanation
If the first mortgage contains a due-on-sale clause, transferring title (even with seller financing) may trigger the clause, requiring full repayment of the first mortgage.
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