Pre-foreclosure deal, negoitating arrears?

[Jonathan B.]

Hi Guys,

The potential deal here, first time dealing with a pre-foreclosure.

Preforeclosure seller, auction due in a week, 

Got authorization signed from the seller, the bank claims the current arrears are about 52k which sounds steep.

the owner did not pay the mortgage for 3 years.

original loan is 165k, 3.75% fixed 30 years, monthly payments are $760, so adding 3 years of payments together it should add up 27k of arrears, not 52k.

I realize there may be some late fees and attorney fees built up in there,

who do I reach out to negotiate those arrears down and how what do i say to make that happen?

Property ARV 255K

Principal is 165K

Rent is 1750