Finance
In Wyoming, a purchase-money mortgage is best described as:
AAny mortgage used to buy real estate
BSeller financing where the seller takes back a mortgage or deed of trust from the buyer✓ Correct
CA government-backed mortgage for first-time buyers
DA mortgage secured by personal property
Explanation
A purchase-money mortgage (PMM) is seller financing where the seller extends credit to the buyer and takes back a mortgage or deed of trust as security. This allows buyers who cannot obtain conventional financing to purchase property directly from the seller.
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