I would first check to see if HELOC is even an option - in TX its hard to find and can only be done for a primary residence.

If you intend to occupy this as a primary residence you could "assume" the loan meaning you would personally need to qualify with the existing lender to take on the loan in your own personal name. 3.

I've only ever purchased homes as primaries, one being rented out currently to an insurance company and the other is my current primary.

Maybe you're in limbo renting for a year while the primary residence gets built.

I understand in most cases you do not want to be purchasing a second position DOT and I do thorough research.The primary DOT has not issued a notice of Trustee sale so the beneficiary has not attempted to foreclose.

That’s our primary method of communication so it works.

., after a divorce or separation), you may qualify for a second FHA loan for your primary residence.Non-Occupying Co-Borrower: If you were a co-signer but did not occupy the original property, you may qualify for another FHA loan as the primary borrower.Important Note: FHA guidelines typically require you to demonstrate that the current property will not meet your needs or is no longer feasible as your primary residence.2.

What these $20 - 40k “mentorship’s” sell is a SHORTCUT, but it does NOT work because the PRIMARY real estate education and knowledge MUST be there in order to be able to implement and strategy or tactic correctly, at the correct time, and under the correct conditions.  

I still may proceed as it’s my primary residence so the negative equity portion is not my primary goal but it remains a good argument against.

Most primary residence lenders are not going to lend in second position for a purchase.