Quick Pre-foreclosure Deal

[Joseph Malovich]

Yesterday I was contacted by an owner of a property who needs to pay $5300 to the bank by September 4th lest their property get foreclosed on. How can I safely get this property under contract and keep the owner from getting foreclosed on? It seems like a sub2 deal would be best if I can protect myself and if so, how?. Title Search and Home Inspection? Lease Option with my downpayment covering their arrears?

Property value is ~ $100,000, defaulting loan balance is ~ $20,000, They are not qualified for a HEMAP. I will be meeting with the owner at the property later today. I am a cash/as good as cash buyer. Location: Pennsylvania.