Normally how this would play out is that you would be buying the house and your aunt/uncle would co-sign for you and then gift you the $ you need.

And lots of people are continuing work as normal.

@Casey Stoker  Go through the place as you normally would-take a few days to get past the initial 'they left the place like this' frustration. 

Where in my case the 3 bedroom property with one bathroom and huge tarrace costs 219000 euros , where normally in this area I can rent it out for 1200 euros/ month.

This house is the lowest I’ve seen (in over 1.5 years) and I don’t foresee any similar homes going for any less just below 1M asking, which normally sell for well above 1M.

I believe that the Special Proceedings office in Wake county is still open and I think Substitute Trustee processing related to defaults will continue.

When life returns to normal (after CV-19)  that will be a long and stressful commute I would not wish on anybody.

All of these speculations on my end are pretty long term so in the next 5 year period I don't think we will see a huge change in how people live and work once everything returns to semi-normal.  

I normally have very  clear opinions but I think this is a tough one. 

I see many people bragging about being able to do this to buy real estate right now which is at its peak, will most likely go down and if you cannot pay it back you are upside down on it and probably cannot refinance and you are losing tax deferred growthIt’s really no different than taking a normal loan from your retirement as there you are not taxed nor pay penalty (but do pay interest to yourself).