Taking ownership to evict tenants?

[Carl Lee]

Fair Warning, this isn't exactly a question about investing, but I have a situation that a family member has brought to my attention. I'm just getting started in real estate and I'm not sure how I can help them.

A relative owns a Multi-Family property and lives in it with two other tenants--a typical Chicago 3-flat. They're currently in the Pre-Foreclosure process as a result of a number of issues. They have been unable to afford the mortgage because of a business-related issue, which has been exaggerated by tenants not paying monthly rent and mounting repair bills. They do not have any rental agreements, up until this point they've operated informally--so they've had some trouble with the eviction process.

I've considered taking ownership of their property, hoping to hit the reset button and get this property moving the in the right direction again. Would this be advised? What other options are available to me to help them out?