Finance
A Wisconsin 'wraparound mortgage' is a type of seller financing in which:
AThe buyer refinances an existing lender mortgage
BThe seller creates a new mortgage that 'wraps around' an existing mortgage, with the seller continuing to pay the underlying loan✓ Correct
CThe lender and seller share ownership
DThe buyer takes over the existing mortgage plus gets a new loan
Explanation
A wraparound mortgage is a form of seller financing where the seller creates a new all-inclusive mortgage for the buyer at a higher rate while continuing to pay the existing underlying mortgage.
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