I don't have any experience with HML, but I'm in the midst of my first Homestyle renovation and I can tell you a little bit about the potential negatives (compared to cash or hard money)you'll need to pay $500 or $600 for a "renovation loan consultant" who represents the bank in seeing that the work gets done to the extent and standards that you've arranged in the loan.

If the tenant pays for their own utilities, then I wouldn't charge extra rent for such a short-term arrangement.

Truth: Always get every arrangement in writing before paying them.

If Tenant remains in the Property with the Lessor’s consent, then this arrangement constitutes an extension of the lease on a month-to-month basis"

(A) A landlord who is a party to a rental agreement shall do all of the following:(1) Comply with the requirements of all applicable building, housing, health, and safety codes that materially affect health and safety;(2) Make all repairs and do whatever is reasonably necessary to put and keep the premises in a fit and habitable condition;(3) Keep all common areas of the premises in a safe and sanitary condition;(4) Maintain in good and safe working order and condition all electrical, plumbing, sanitary, heating, ventilating, and air conditioning fixtures and appliances, and elevators, supplied or required to be supplied by the landlord;(5) When the landlord is a party to any rental agreements that cover four or more dwelling units in the same structure, provide and maintain appropriate receptacles for the removal of ashes, garbage, rubbish, and other waste incidental to the occupancy of a dwelling unit, and arrange for their removal;(6) Supply running water, reasonable amounts of hot water, and reasonable heat at all times, except where the building that includes the dwelling unit is not required by law to be equipped for that purpose, or the dwelling unit is so constructed that heat or hot water is generated by an installation within the exclusive control of the tenant and supplied by a direct public utility connection;(7) Not abuse the right of access conferred by division (B) of section 5321.05 of the Revised Code;(8) Except in the case of emergency or if it is impracticable to do so, give the tenant reasonable notice of the landlord's intent to enter and enter only at reasonable times.

Or some arrangement like that.

Executor may want to liquidate some other assets of the estate in order to bring the mortgage current (or some other arrangement) and protect this asset from being sold for less than fair market value.

I never thought of this situation even happening and should help me in the future when I make arrangements.

My current living arrangement precludes me from Doug so or I would be doing so now.Don’t study too long.

What is officially needed when I go to settlement to arrange for the home to be used as collateral for the loan?