After my wife and I had exhausted our resources and borrowing limits, I've decided to take on two partners in the last 1.5 years.

I started out with and still have two other partners in my note company - one for acquisitions, one for borrower management, and I raise money and manage the investor relations department.

But Bill does have a point that you are just the lender up until the time you FC (take title through sheriff's deed) and the borrower has the right to reinstate and/or redeem that once accepted changes your assumed strategy of just "FC for title".

The lender won't communicate with anyone but the borrower(s) about the loan unless you have a signed release form the borrower.

FHA being asked to accept 500 fico score borrowers and Fannie Mae selling their product to institutional investors instead of main street could continue to be tailwinds keeping inventory low.

Together she will be viwed as refinancing and you as a family co-borrower.

I cleared about $55k after resale and holding costs and borrowed $200k so my cash on cash was 85% and I did it in 4 months.This was done in a very, very competitive market of Southern CA where finding good spreads in that type of value range is difficult at best.Most of my acquisitions are REO deals and not short sales, but short pays are a larger majority of the inventory compared to REO so you must work them if you plan to consistently obtain deals.

Time for a reality check.There is much more to lending and borrowing than your credit, the loan to value or the time you have been in title.

Rates rose and most mortgages allowed assumption, so investors did not have a chance to reposition with the market as borrowers marketed and sold their properties using the assumption.Generally speaking if there is a clause, it will talk about the fee to be underwritten, many times around 1.0% of the balance.

And how much can you borrow?