Posted by jim jr on July 13, 2003 at 08:35:56:
If you give someone $32,000 for a note(the note obviously valued at more $32,000), you will then receive the payments on the note instead of the previous note holder. You will receive an agreed upon interest rate on your investment and over time you will receive more than you invested. The note holder would sell you their note in order to get a lump sum, and then you will receive interest on your investment. You can purchase all or part of an existing note. I hope that helps; I am new myself.