Is this worth pursuing?

[Kevin Lovill]

I have been informed on a pre-foreclosure deal. The comps are in mid 150k. The owner owes this much on the property. The property would need new carpet and painting on the inside. The owner owes 140 on the first and 15 on the second. I would have to get the property around 100-110k. I would have 3-4k on the the initial purchase closing cost, I would need to assume 6-8 on holding cost at 700-800 on a interest only loan, that would be 6400 on the high side. Need to assume closing for the new homeowner 5-6k and if listed 6% on commission for the sell. That would be roughly 9k and any misc like utilities. That would be a total of 26-27k. How would I get the bank to go for a price around 100-110k. Would I pull the lowest recent comps and then subtract rehab cost. What else could I use for negotiation. What about the second loan. Would the home homeowner be responsible for the negative portion of the deal. I live in North Carolina. I'm not sure the terms of the contract yet. Thanks for any help.