Blog
Notes on note buying.
Case studies from real (sanitized) deals and working education for mortgage-note buyers — how claims get checked, where they break, and how to price from evidence.
Featured · case study
Price from the record, not the claim
A real listing said the collateral was worth $189,000. Three independent sources agreed on a $154,440–$163,534 range, and the deal was priced from its conservative end. Here's what that one gap did to every other number in the deal — and why the claim stays on the page, marked not independently corroborated.
September 10, 2026 · NoteGage · Read the case study →
education · performing notes
How to evaluate a performing mortgage note
“Performing” is a claim about the future built on evidence about the past. The checks that test it, the risks private notes actually carry, and the one that catches each — with links to the deeper guides.
· NoteGage
education · diligence
How to read a seller's payment ledger
The ledger attached to a listing is the closest thing to ground truth about whether a note is really paying — but only for the period it covers. Three rules keep a stale or partial ledger from fooling you.
· NoteGage
education
ITV vs. LTV: the two ratios note buyers confuse
Loan-to-value measures the borrower's loan against the property. Investment-to-value measures YOUR money against the property. They answer different questions, and the second one is the one that protects you.
· NoteGage