I failed to mention that I think the likely ARV here is $115K to $120K.Our other option is to borrow against our homes which is probably the route we will go.  

If you can handle the risk, get an authorization to release information from the borrower and a specific power of attorney so you can call the lender and get pay off info when you need it.  

And then borrow books by authors such as Dave Ramsey or David Bach that go over how to get your finances under control.

That would be around 2.0% higher than a conforming conventional borrower at around 4.0%.  

In order to create a note there must be a borrower (you or your IRA) and a lender (the person actually giving you the money).

Search here on Dodd Frank ended Lonnie deals and similar threads.Investors will get away with still doing lonnie deals until the borrower reads about DF and decides that paying 3x what you bought it for and 16% interest isn't fair.  

Clearly, charging these fees to the borrower during foreclosure is like kicking a man when he's down :)

Or like what happened to some of my borrowers the PM just collect about 3 months worth of rent and fled with 250k  only to be arrested down the road and go to prison. 

Lately one of my CC's has a 1% fee.I guess they're counting on the borrower not paying it back in the 1 year period, and getting bumped up to the usual 12,9%, but still, 1%... wow...

Does my future "business" ever become the borrower?