Trying to get the best way forward (due diligence stage )

[Kimani Kironji]

My first question to Bigger pockets... slightly nervous.. One of my co workers has a house that is going into foreclosure . She doesn't want anything to do with the house . She is behind on her payments. The house is in Tacoma Wa near Portland Ave . It's a 4 BD 1.5 Bath with a detached garage ... that at one time had a toilet in. She has been receiving the every day letters from the Trustee Company she is slightly panic with the date of foreclosure in October 2017.. Her current amount owing is $147000. She has 4% with 30 Year fixed with one of the large financial institutions in the country. The reinstatement fee is $10000. She has disclosed to me that she has a lien (HUD)$ 10000. The FMV ranges from $210000-230000. Depending on the different website. My intentions 1: to rehab and rent it out . Refinance at a later time like in 3-6 months . 2: Since she wants nothing to do with it . Pay the fees to bring the loan current . And put my name on the property by transfer But not to change the name on the loan.... because they can call the loan due . 3: Repair with the intention to sell it . 4:Get contract deal at least out of it and pocket some money WITHOUT paying the fees . My credit got dinged a little bit but am doing everything to bring it up ... but I donot want loose on this because this deal just fell on my lap 2 days ago . Whichever advice that makes sense at the his time ..