MLS listing with notice of foreclosure, advice needed

[Mark Updegraff]

I'm interested in purchasing a quad that is listed on the MLS. The owner has had it for many years and re-fied it with the same lender over the course of about 30 years. She now owes more than the offers coming in. It was listed at 140k back in summer and now it is down to 125. I purchased a double across the St for 76k as a short sale about a year ago. Using price / sq ft comparison (76k/2100sq f = 36$/ sq ft * 3500 sq ft = 126k. The listing agent is unwilling to work with me in the 100 ballpark, he won't even write it. I could go to another agent to submit the offer, but I'm afraid he'll keep it from going anywhere. The house has been listed for months and the notice of foreclosure was filed last year. Is it possible to make an offer on the note directly to the bank and then work with the current owner (elderly somewhat disabled, living in one of the units) to sell me the prop for what she owes? Any other ideas or advice on best way to proceed would be appreciated. Thanks! MC