Helping a Seller in Pre-Foreclosure

[James Allen]

What would be the best strategy for helping someone in pre-foreclosure? I have a property deal in which the sellers are a year behind on payments and owe the bank $25K to catch up payments. They also owe the HOA. There is some equity in the property but not much. Is it better to try to work out terms with the bank directly or go straight for a subject to purchase? is there any way for the bank to reduce that $25K owed?