Question for Dirk and other MH pros - Posted by Mark (SDCA)

Posted by John Behle on March 06, 2000 at 24:09:19:

My version is an old DOS version. I’m not sure what the capabilities are on the newer versions. I emailed John Moren your question and hopefully he’ll respond here.

Question for Dirk and other MH pros - Posted by Mark (SDCA)

Posted by Mark (SDCA) on March 04, 2000 at 11:45:35:

What note amortization software do you use? Obviously, you need to be able to give the MH buyer a payoff statement on demand. Where can I get the software?
Do you 1098 them for interest each year? What is the procedure for doing that?



Re: Question for Dirk and other MH pros - Posted by John Behle

Posted by John Behle on March 04, 2000 at 16:37:18:

The link is at

It is excellent software.

Can Notesmith work with tax liens? - Posted by Ben (NJ)

Posted by Ben (NJ) on March 05, 2000 at 10:48:30:

I gave up years ago trying to find a software program
that can manage tax lien certificates. We had to create our own from scratch using Excel. However, Notesmith sounds like it might be pretty close. The difference with a tax lien certificate is that it is like a mortgage note in REVERSE, the investor PAYS the municipality the delinquent taxes owed initially for the certificate, and then continues to pay subsequently every quarter for the next two to three years until the lien is redeemed at the end in one LUMP SUM payment of princiapl, interest and penalties. Therefore you have a stream of roughly equal payments made every three months on which 18% simple interest accrues. Of course, there are some
variables in reagrd to the penalties and premiums paid as well, but this is the basic structure. Would Notesmith be able to handle this? Thanx.

Re: Can Notesmith work with tax liens? - Posted by John Moren

Posted by John Moren on March 06, 2000 at 09:16:24:

Here is some information on using NoteSmith for servicing tax liens.

  1. NoteSmith handles incoming, outgoing, and accruing payments equally and easily.
  2. If your original investment earns 14% for the life of the term but you get 18% of the amount you add, you need 2 accounts in NoteSmith to manage each lien. They are two different cash flows and we only support a single cash flow per account. If the rate simply changes from 14 to 18%, you’d only have one account per lien and treat it as a variable interest loan.
  3. Since loan servicing depends on payments, each month record a $0 payment to accrue the interest owed to you. This can negatively amortize the balance (interest on interest) or just accrue interest. This also can be calculated on daily interest or periodic.

We have a few users who are primarily mortgage people, but they have portfolios of tax liens. I think NoteSmith would get the job done for you. Also, since mortgages track payments, coupons, and letters, there is functionality you won’t need for lien servicing.