My Dilemma

[Account Closed]

Ok so I have a situation and possibly an opportunity. Just need some advice and someone to kinda give me feedback and or direction on what I should do with this.... Ok so here we go.... I have a friend that has a house that I just found on Trulia. Well to my surprise it is well below market value and the original Principal Balance is $127,988...(being it is in pre-foreclosure) the POSTPONED est. opening bid for it is at $67,500. My question is of course I would like to call my friend and ask about his house (which I will probably still do) and maybe hash it out with him on a deal but that would kinda of be awkward being in pre-foreclosure phase and me asking him to buy his house right or not? Im just needing direction on how I should go about doing this and if I would be able to do anything with it. If anything I would like to wholesale it to a buyer or two but just wanting some advice or if anyone has come across a situation like this?