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| DISCOUNTED LOAN |
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Related Terminology: FIXED PAYMENT MORTGAGE
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| one that is offered or traded for less than its face value. |
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| Example When the Deavers sold their house, they accepted a second mortgage as part of the purchase price. The Deavers then sold the loan to an investor for 75% of its face value. The purchaser of this discounted loan is entitled to all interest and principal payments stipulated in the mortgage contract. |
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