Owner Carry Foreclosure - Assumption of Loan?

[Kevin S.]

Hello folks, first time posted here - been here on BP for a few years now.  I came across a property where the buyer is in foreclosure (NOD) as of a few weeks ago in CA; purchased it some years ago.  I've requested a title report but from what I can tell the property is owner-carry.  If I can contact the buyer and seller, and we agree that I do assumption of loan (in leu of foreclosure to buyer) is there specific paperwork to follow in the state of CA, or how would one stop the foreclosure proceedings through a title company, or what avenue does it have to legally take?  It's a long shot, but my thought is to help the buyer out of foreclosure (buyer has moved and not living there currently) and seller his money and get to walk away from the whole mess (would pay cash to seller/loan holder then refi it out once it's in my possession to free up cash).