Approaching Someone Who is under Water

[Peter Pezzano]

I have reached a seller who I know is under water in his mortgage payments, I have arranged to meet him tomorrow. What is the best way to break it to him that I know he is being foreclosed on? Also, how can I found out how much he is under water for? I believe if I can put the property under agreement for 1.2 I could sell the contract for 1.3..But if I could get it for less than I obviously would I'm just not sure on how to arrive at that number without knowing how much he is in debt for.

Thank you,