Short Answer: Yes. You signed paperwork on the construction loan that would be very similar to the final loan. They will foreclose and sell the house at a sheriff's sale.
No, it does not
In the US, no your eligibility for student loans is not dependant on credit or income.
Yes, you can submit to the lender a document called a deed of foreclosure. no
Yes you can, but in most states you have to tell the potential tenant about this foreclosure.
Yes, any unpaid mortgage can put your home in jeopardy of foreclosure.
what is the time for foreclosure on a home in california?
Not until there is a foreclosure sale.
no
If you have the cash.
You are typically off the market for about 3-4 years after a foreclosure.
A pre-foreclosure home is a home in which the owner is in immediate danger of losing their home, possibly due to unpaid loans or mortgages, but has not lost it yet.
Construction loans are available for those looking to build a new home on their existing lot, or for financing a land/home package. The best option for a renovation is a cash out refinance. One can use the equity in their home to fund the renovation project.