The bank will find out when the insurance policy is updated. 

It sounds like any other sale, even though it is being done by auction.  90 days is Plenty of time to get financed, but you’d have to make sure:It’s zoned as residentialIt will appraise for your bid priceYou can have access for insurance and lender inspections/appraisals.It is in good enough condition to get a conventional loan, or you could take a shot at a 203k or Fannie purchase/Reno loan.The auction terms/details Should tell you if this is prohibited for some reason.  

I'm not even sure how this would work since the insurance company is paying HH and HH would be paying me.  

Typically, borrowers must provide title insurance policies to protect the lenders' monetary interests.

.$430,000 (ARV)-$310,000 (Balance could be plus or minus several thousand)-$20,000- Holding Costs (insurance, utilities, PITI, etc) about 6 months...

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After insurance pretty much paid to rebuild the entire house, we sold for 135,000.

An attorney with a title company told me the following:  "When I insure properties post-foreclosure that involve IRS liens the first question is was the lien filed before or after the DOT was recorded.

And then there is replacement cost - just look at your insurance rider.

Another food for thought is that if you do your own work and something goes wrong, your insurance might not cover it.