Assuming a loan as a college student

[Kevin Lin]

I have a question:

I am currently learning about buying properties before the public auction that happens during a foreclosure. So I am interested in investing in pre-foreclosure properties.

What I want to know is the chances I have and how realistic it is to try and assume a loan in foreclosure as a 19 year old college student.

My father will be able to support me with the money needed to buy equity from the owner, purchase any liens and to re-instate the loan.

Is it possible for me to come up with a plan that will allow me to do this? I am not someone who just wants to make a quick buck, I understand the work that is required for such investment plans and I also have done my homework and essentially know everything that needs to be done in the process of buying a home in foreclosure.

All I need to know now is how likely will it be that a lender allows me to assume a loan as a 19 year old college student that has "normal" credit (I just have one credit card, on which I've always made timely payments), and if that is impossible, if there is any way that I can have my dad assume the loan while I do all the "work" to buy the property and re-sell it.