Potential First Deal: Need some advise

[Adam Carlan]

So, my marketing has paid off I got my first off-market wholesale lead. They are far behind (6 months) on their payments and facing potential foreclosure. Nothing official has begun but time is of the essence. The loan amount is $126k and the property is estimated (based on comps and condition) to be worth about $150k.

What is the best plan of action here; should I call the lender and negotiate a payoff before making my offer the the owner? What's the most lucrative way to make this work in our favor?