Frank objected to the settlement, and asked in open court for the redemptionrate on coupons in a similar settlement the lawyers negotiated against Edward D.
If an investor is looking to own the actual properties, some stats show a redemptionrate in Texas of only 80% instead of a 99% redemptionrate for tax liens in other states.
Under a currency board arrangement, the central bank guarantees the redemption of all notes in circulation at a set exchange rate to the dollar or another foreign currency or basket of currencies.
Following the expiration of a statutory period, unpaid tax liens are typically sold at public auction where interested bidders seek to acquire the lien at a favorable interest rate that the delinquent homeowner will pay upon redemption.
Furthermore, upon the occurence of certain events, the interest rate applicable to the Senior Notes may become 11.0% per annum and the redemption premium may begin to apply prior to the fifth anniversary of the Closing.