Posted by Jon Richards on February 04, 2002 at 20:33:15:
Bert
Tvalue is not a servicing program, and while you could tract payments as they come in and develop a correct amortization schedule each month, it would be a hassle.
The best, least expensive program, is NoteSmith for $299. It tracks all the payments, sends out late letters, does the 1099s and 1098s at end of the year, and much more. It is a very mature program and highly recommended.
Question on T-Value software - Posted by Bert G in ND
Posted by Bert G in ND on February 03, 2002 at 12:09:19:
Got a question for those who use T-Value software. Does it let you keep track of payments when they come in? The software I have now (Lender’s Toolbox) lets you calculate what will be due when in the future with a standard amortization, but I get payments on a sporadic basis. For example, I might get $1,000 this month, $500 a couple months later, then 4,000 when the crop comes in at the end of the year. (It happens when you deal with farmers, their paycheck comes annually). Would T-value allow me to track this sort of thing? Or is there something better? (I have Quick Books, and gave up in tears after trying to configure it for rentals).