Between the Bunkers
Around 1998, I reviewed a little over 100 mortgage notes in Orange, Texas. The negotiations were with an attorney handling the estate of the late Mr. Houseman, a local real estate investor and cemetery lot salesman. Uniquely, Mr. Houseman had operated his real estate...
Why Two Notes With the Same Balance Can Have Very Different Values
At first glance, it seems logical to assume that two owner-financed mortgage notes with the same balance should be worth about the same amount. After all, if both notes are owed the same dollar amount, shouldn’t their value be identical? In reality, that’s rarely the...
