Up until the trustee sale (foreclosure auction), the home is still owned and fully controlled by the home owner.I’m assuming you’re going to be looking at off-market properties (since loan status isn’t something they advertise on the MLS so you likely wouldn’t even know if it was in default if it’s a listed property).So, in that case, you’d just negotiate a purchase agreement with the home owner and then take the contract to your local escrow/title company to open escrow. 

What if no other insurer will provide a new policy, but my lender requires full ongoing coverage, and would treat a naked situation as a default, meaning immediate loan repayment or foreclosure?  

I've been reading up on 203k loans as a means to acquire a main house and then fix up a garage as an ADU. 5.

Hey, guys...Does anyone have any experience working with Bluprint Home Loans? 

The only time I know of recently in the US when house prices dropped was about 15 years ago when banks had been lending money to people that should never have been given loans.

The US Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that allow homebuyers and investors using VA loans to pay for their real estate agent's commission - i.e., the buyer-broker fee. 

I would just check with your lender to verify that the property will be eligible for refinancing after the construction loan.

What is the loan to value (LTV) or mortgage balance compared to the assumed value? 

Mix buying a home, saving money, putting money in different spots, and possibly getting a better loan deal to stand in a good spot after 5 years.Good luck!

Get a short-term loan.