Land developers sometimes use junior financing to pay for: A. their own offices.
B. offsite improvements.
C. foreclosed property.
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Land developers sometimes use junior financing to pay for: A. their own offices.
B. offsite improvements.
C. foreclosed property.
The correct answer is B. offsite improvements.
Junior financing refers to a type of secondary mortgage or loan that is subordinate to a primary mortgage. Land developers often use junior financing to help cover the costs of offsite improvements, such as roads, utilities, and other infrastructure necessary for a development project. This financing can be crucial in managing cash flow and funding essential enhancements that contribute to the overall value and marketability of the property.