Posted by Frank on January 13, 1999 at 13:42:00:
John,
I spoke briefly just now with the R.E. agent about this note due 12/1999(Y2K!!). The original note looks like this;
N I PV PMT FV
360 8% -120,000 880.52 -0-
it now looks like this:
N I PV PMT FV
49 8% -120,000 880.52 115,352.08
The note was created initially so that the cashflow could pay for their mother’s health care needs. The mother has now passed away. The note is owned by two family members and they would like to cash out and move on.
According to the R.E. agent they are looking to unload this investment and had been offered a 15-20% discount by another company. The R.E. agent said they would like 90% and he thought they may be able to get 95%.
Unfortunately, we could not pursue the converation any further because he had an appointment. He will call me later this afternoon.
Can you continue to direct me based on this additional information? Thanks, Frank