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To: tyc:> who wrote (12009)8/22/2004 10:06:45 AM
From: loantech  Respond to of 312641
 
tyke,
If you "purchase and finance" a car you have possession of the car and the bank holds the title. You miss a few payments and the car is repossessed. I guess a car is a paper asset until paid. Same as the house question.

Of course the taxing authorities also have a "paper" hold on your house even when the mortgage lien holder is paid.
Tom