Subject To Purchase

[Daniel Wise]

Hello,

Here's my situation:  I have a person interested in selling me their property "subject to".  Their loan is $500,000, and they owe $277,000 in missed payments.  The current market value of the home is $925,000....or $975,000 with upgrades.  How do I make this deal work?  And is it even a good deal to go after? They will be foreclosed on in 45 days from today.