Subject-to's and foreclosure
I want to see if the scenario in my head makes practical sense. I'm in Connecticut but any advice or feedback is appreciated.
If someone is in the foreclosure process, could I purchase their home subject to the existing financing? I know I'd have to pay whatever the bank would require to get it out of foreclosure, then beyond that take over the payments on their existing mortgage using a 3rd party to handle any payments that may need to be split.
I think I'm simplifying here since we'd also have questions about insurance, taxes, etc... However, for the sake of just purchasing the home - can/should that be done?