House getting ready to be foreclosed on

[Bianca G.]

Hello BP Family!

I have come across a deal where the homeowner owes $15K in mortgage payments  and is on the verge of a foreclosure. The current owner owes $120K in loan(The current value of the house is $165-$170K)  no other liens and is asking $8000 to transfer the house to my name(kind of cash for keys). I have never done a deal like this before so am not sure what would be involved and if it is safe to work a deal like this. How to handle this and any pointers that I should make sure of.What all questions I should be asking. 

Any help will be greatly appreciated. Thanks!