Posted by Harry W. Murphy on January 28, 2003 at 00:35:53:
Recently got involved in this business. Appearently a little uninformed. At this time I am brokering a note, never learned how to actually get the money for myself. Do I have the note puchasor write me the check and then I cut the note seller a check for the quoted amount, then glean the difference. If I do that do I need to also give the note seller a 1099??
Need quick response as this deal closes Thursday 1/30/03. Thanks for the help.