Foreclosure property on a reverse mortgage?

[Tooliebell]

Does anyone have any experience with buying a home that is a foreclosure from a reverse mortgage?  We are looking at a property that is going into foreclosure because the owner had a reverse mortgage, and she is no longer living in the home.  We are going to try to Farm Service Agency funding to buy this as it is a farm.  I am just wondering if this gets hairy because of the foreclosure and it being a reverse mortgage,

[ShanetheMortgageMan]

HUD insures most reverse mortgages out there, so if they are insuring this one then I am sure it's similar to any foreclosure that HUD is insuring, like an FHA forward mortgage.

Since it's not technically owned by them yet, and still owned by the lender, then it'd be similar to a short sale where the approval process has to go through the servicer to be approved by HUD.