Creative solution...help me think.

[Arcinio Arauz]

I generally work with properties under distress, get an option and wholesale. I found a house with over grown grass and vacant over one year now. I finally got in touch with owner and she stated that the house may be in foreclosure. She declared bankruptcy and the mortgage was "dismissed" in January 2011. She been out of the house since and knows nothing else. She gave me a phone number to last known lender. She owed 225k and house is worth 150k. Is there anything I can do to salvage a deal?