Short Sale - Lender approach?

[Robert Iovine]

There is a property in my local market that I have my eye on as a potential flip. The current owners are refusing to accept any offer below list as it will require the them to bring money to the table. The list price is above market value for a home in my area and is 90+ days on market. Currently, homes are under contract and pending a sale in under 30 days. My understanding is this home is heading towards a foreclose. Would it be possible to reach out to the lender directly to trigger the sale without reaching foreclosure status? Has anyone ever tried this or had success doing so?