Finance
When a Wyoming buyer assumes the seller's existing mortgage, the buyer:
AHas no obligation on the existing mortgage
BTakes on personal liability for the mortgage payments✓ Correct
CReceives a new mortgage from the same lender
DIs required to pay off the existing mortgage before closing
Explanation
When a buyer assumes an existing mortgage, they take over the mortgage and become personally liable for the payments. The seller may still be liable unless the lender grants a release (novation).
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