Purchasing mortgage from the lender

[Brent Austin]

There is a property for sale in my investment area that is a POS at this time that is vacant and for sale for $99k.

I am wondering if maybe it would be better to approach the bank and attempt to purchase the loan instead.

Since it is vacant and in very bad condition, they may also be behind on the mortgage as well.

This way, if I purchase the loan for the balance when the owner finally defaults, it's mine for the cost of the loan and paperwork.

Thoughts?