Problem with fckeditor.value

I have this problem: i use fckeditor to create mail from a web server where user can format the text; when sent the mail is saved in a table in a memo field. When i want to open the saved mail i use fckeditor and i set value property = saved data in memo field. Here i have the source code of the html text sent in the mail.The problem is that when i set the value property i see the code and not the formatted text. If i select source button from the toolbar and i paste the code when i return to the text i see the fornatted text correct.
What i need to know is if there is a way to see the fornatted text immediately, if i can set a property so i can set that what i have is the source code and not the formatted text.

Thanks