Buying a Property before Foreclosure

[Courtney Lovely]

Hello~ I am an investor from Iowa! I was recently approached by a couple who is several months behind on their home loan and was hoping I could buy their home for what they owe before it goes back to the bank. They have received a Notice of Acceleration. Is there still time to purchase before they foreclose? Would the bank be willing to sell for less than the amount owed if I pay cash or do they not negotiate?!? I’ve never purchased a home in this situation but it’s definitely something I’d love to learn more about! If you’ve done this or have any helpful information I’d really appreciate the help! 
Thanks,                                           Courtney Lovely