wholesaling conundrum

[Damien Cox]

How does wholesaling work with a distressed seller who is upside down in their mortgage? E.g. I find a seller who is four months behind on their mortgage,  they still owe 100k on the mortgage. I pull comps in the area, and they are around 80k.  If the maximum offer allowable is around 50k,  if I offer that number even if the seller jumps at that, and I try to assign at 65k doesn't the bank have the final say in this situation.?