Foreclosure wipes all claims to the property, including leases.

Understand that insurance is designed to insure catastrophe, but has evolved to the point that we expect to be insured for leaky faucets (ok, I'm over exaggerating here)The question to ask yourself is: would I have to put in a claim to replace damage caused by a falling tree or a broken washing machine hose if the damage was, say, $2500.

You could bring in a money partner to stabilize but getting something is better than losing it and getting nothing.You could also look at selling to a land holder or a developer for cash to tear it down and rebuild something better.You can also approach your bank and explain your repair situation and see if they will help with the repairs to protect from a default and huge loss.Some small banks will do this sometimes.To the big banks for the most part you are just a number and a loan that has to be worked through.A HML loan will eat you up and I don't recommend that.A regular lender will not touch a property like that.

You're claiming to occupy a house when, in fact, you have no such intention.

Ken Sanders,You have to be eligible for unemployment in order to claim the exclusion under that category.

And even worse, my tenant claims that the family did not pay her any money upon moving in.

You can also see the history of the bond, that shows if any claims were paid out.

Could I put the deal under contract, and assign it to a buyer just like a regular wholesale deal?

I'm now trying to finance the property to take as much cash as possible out, but my mortgage broker is telling me that because I don't have a regular job I won't be able to get the mortgage.

Again not an excuse but he claimed his sit. was that he had to pay rent at his old place at the same time as mine so he was temp. squeezed for funds and needed to start moving so I allowed some items into the garage :/