American General is asking if my business has 'discounted paper.' I assume that means 'have my customers bought from me where their contract was sold to a finance company.' Is this correct?
Edited on Wed Feb-02-05 05:56 PM by Worst Username Ever
that are sold at a discount so someone doesn't have to deal with the forclosure proceedings.
On edit: Sometimes a private investor will buy it, KNOWING it is going into forclosure. The forclosed property is the seized (as it would be anyway) and the private investor sells it off at a profit.
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