Read through the court documents online and it doesn't appear that the owner on title attended any hearings or tried to stop the foreclosure. 

I think between the last option and this one, most folks would pay the 1% + 0.25% for the lack of PPP.Commercial Mortgage Backed Security: Net worth must be equal to the loan amount, and liquidity must be 10% of the loan amount, absentee borrower is fine/normal here. 

I can not find very much info online around this. 

I  know that there are certain stipulations that come with the grant and I want to use  FHA  loans to keep my down payments low.

I have very little equity in it and my loan balance is around $400k. 

The loan officer came back with questions that I need advice with.

He has the proof of funds and I know why he is not going to get a conventional loan.

This affords the opportunity for a homeowner to sell the property if it is not under water for market value and pay off the loan before they are foreclosed upon, or more commonly, short sale the property with the bank's approval. 

If you need to access equity for a second investment property, a HELOC would be a better option.Currently, many investors in long-term loans are seeing reduced cash flow due to high rates, taxes, and insurance.

That is because of the financing available with the owner occupied loans with the longer (30 year) fixed rate debt.