Guy defaults on mortgage. There are liens against home. Options?

[David Miller]

hey community, 

a friend's father had a business that failed massively in the last 3 months. he just stopped paying the mortgage on his house. some of the business partners have liens against the property. 

my understanding is that if this were to just follow its natural course, the bank will reclaim the property, and it will go to REO. as a side note, the dad's strategy was to spend his remaining emergency fund on a trailer and to move out into the country, basically so that when whoever comes after him for money, he can show he has nothing left in any of his accounts.

if it were just a matter of the mortgage payments, i would be very tempted to start paying them and pick up the house subject-to. the property is in one of the most desirable neighborhoods in all of asheville, and it's a nice home. 

however,  the liens present factors / challenges i just don't understand. 

i don't plan on doing anything with this necessarily, but with this particular bit of inside knowledge about the property, it seemed worth sharing to see what experienced investors here thought of it.