@Donna Ryngala Any attempt to circumvent owner occupancy agreements - which you will sign at closing - could set you up for a charge of mortgage fraud.I'm not the world's foremost expert on this, but I do believe that the new home must be your primary residence, including being your mailing address.Talk with your lender to be sure you understand the requirements.

Let's set up a phone call.

You may want to consider having you added in a junior lien position with a set dollar amount that you both can agree on.  

I honestly told their counsel I would pile their claim amount in my front yard in bills and set it on fire before I would give them a penny.

Here are some good places to start:http://www.biggerpockets.com/meet - find and connect with other BP members that are in your area.http://www.biggerpockets.com/alerts - Set up keyword alerts to be notified of the topics that interest you.And, of course thehttp://www.biggerpockets.com/forums - ask any question about real estate!

They can go after the original owner but not foreclose anymore.Unless the senior lien took care of the junior liens also when setting the bid price.

I purposefully, and uneducatedly, set the replacement cost of the policy at $75k while I knew the property was only worth about $50k...not sure if that is bad practice or not but I am the type that likes to make sure I am REALLY covered! 

How long does it usually take to set everything up?

Did the structure they helped set up hold up and protect you in an actual legal situation?

I have putting in an offer on a property and I am just asking for another set of tenured eyes.